- Indigo Books and Music (TSX:IDG) announced a number of new leadership appointments
- Most notably, Indigo’s founder, Heather Reisman has been appointed as chief executive officer and to the board of directors
- This shakeup comes as former President and CEO Peter Ruis departed after less than one year on the job, along with the departure of nearly half of its board in June
- Indigo Books and Music stock opened trading at $1.36 per share
Indigo Books and Music (TSX:IDG) announced a number of leadership appointments, including the return of Heather Reisman, as part of a drive to strengthen its brand focus.
Indigo’s founder, Heather Reisman, has been appointed as chief executive officer and to the board of directors. The company’s chief financial officer, Craig Loudon, has been appointed chief operating officer. In his new role, he will continue to act as the chief financial officer and lead the finance team.
Indigo’s board has appointed Markus Dohle, chair of the board’s human resources, compensation and governance committee as chair of the board of directors. He recently capped off a 15-year term as chief executive officer of Penguin Random House.
Eileen Naughton has also been named to the board. She previously served as chief people officer at Google.
This shakeup comes after former president and CEO Peter Ruis departed after less than one year on the job, along with the departure of nearly half of Indigo’s board in June, with one member citing mistreatment and loss of confidence in company leadership. Reisman had announced her retirement that same day. Adding more turbulence to the company, Indigo was targeted in a ransomware attack on Feb. 8.
Indigo Books and Music is a major Canadian book and lifestyle retailer with offerings that span books, gifts, home, wellness, fashion, paper, baby and kids products. It operates 171 retail stores across all 10 provinces and one territory in Canada, as well as one store in the United States in Short Hills, New Jersey.
Indigo Books and Music stock opened trading at $1.36 per share. The stock was up by 17.5 per cent over the past week.
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