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Air Canada chairman David I. Richardson to retire

Staff Writer |
Montreal, QC, Canada - April 10, 2017, Montreal, QC, Canada - Air Canada, an airline, announced the retirement of David I. Richardson, chairman of the company's board of directors on May 5, 2017.

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Mr. Richardson serves as nn independent director since September 2004 and Chairman since January 2008.

Mr. Richardson is the former Chairman of Ernst & Young Inc. (Canada) and a former Executive Partner of Ernst & Young LLP.

He joined its predecessor, Clarkson, Gordon & Co. in 1963 and was appointed President of The Clarkson Company Limited in 1982.

Mr. Richardson was also a member of the Management and Executive Committees of Ernst & Young LLP, national managing partner of the firm's Corporate Finance practice and the senior partner in the Corporate Recovery and Restructuring practice until his retirement from the partnership in 2002.

Mr. Richardson has served as the Chair of the board of directors of Nortel Networks Corporation and Nortel Networks Limited, a director of ACE Aviation Holdings Inc., Husky Injection Molding Systems Ltd. and Jazz Air Holding GP Inc. (Chorus Aviation Inc.), and a trustee of Aeroplan Income Fund (Aimia Inc.).

Mr. Richardson holds a Bachelor of Commerce degree from the University of Toronto and is a member and a Fellow of the Institute of Chartered Professional Accountants of Ontario.

Vagn Sørensen, a current member of the Board, will become Chairman assuming he is re-elected as a director by shareholders at the AGM on May 5, 2017.

Mr. Sørensen was appointed to Air Canada's Board in 2006, and is currently Chair of the Human Resources and Compensation Committee, and a member of the Audit, Finance and Risk Committee and the Governance and Nominating Committee.

He has extensive experience in global business, finance, digital transformation and the airline and transportation industries.

Mr. Sørensen is Chairman of FLSmidth & Co. A/S, Scandic Hotels Group AB and SSP Group plc, and serves as a director of Royal Caribbean Cruises Ltd.

He was previously President and Chief Executive Officer of Austrian Airlines Group and held various senior commercial positions with SAS Scandinavian Airlines System, including Deputy Chief Executive Officer.

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