RE:aimiaThanks for pointing this out James23. Flesher's claim has some interesting stuff in it that indicates Rabe and Mittleman Bros. are very much at odds, if not in open war:
39. Mr. Felsher and Mr. Rabe worked closely to define Aimia's strategy following the Aeroplan transaction. At various points during this period Mr. Rabe confided in Mr. Felsher that given he only had experience running private, divisional level, airline loyalty programs he was concerned about his future role at the Company. Mr. Rabe's employment concerns were further heightened by letters that the Aimia Board of Directors and others received from both Mr. Chris Mittleman and Mr. Phil Mittleman (an Aimia director) starting in July 2018 which categorically called for Mr. Rabe to be demoted or dismissed following the Aeroplan transaction. By way of example, on August 27, 2018, Mr. Chris Mittleman senta strategic letter to Aimia's Board of Directors, which was subsequently forwarded to Mr. Felsher by Mr. Rabe. In this letter, Mr. Chris Mittleman wrote:
"Given that Aimia will, upon the sale of Aeroplan and shut-down or disposition of ILS, become aholdco withno operating assets, Jeremy should be entitled to change of control pay-out of his contract, but also accept a reduced role, stepping down as CEO of the holdco to become President of our loyalty sub...going forward I think Jeremy and Nat could acquire a few more similar stakes...I would think that would be an attractive enough prospect to retain Jeremy's interest and provide a compensation level that would make sense. Phil Mittleman would become interimCEO upon Jeremy's move."
40. Subsequently, in late October 2018 in another letter from Mr. Phil Mittleman, it was asserted that Mr. Felsher should remain with Aimia in his position and Mr. Rabe should be replaced. It is clear that at this point Mr. Rabe determined that it order to remain in his position Mr. Felsher needed to be removed.