TORONTO - Indigo Books & Music Inc. (TSX: IDG) announced on Thursday that Chief Executive Officer Peter Ruis has resigned from his position. Ruis, who had been with the company for less than a year, will continue to serve as a consultant for the next two months to ensure a smooth transition in leadership.
The company said its Board of Directors is acting swiftly to find a suitable successor. In the meantime, Chief Financial Officer Craig Loudon and Senior Vice-President and General Counsel Damien Liddle will provide day-to-day direction, working closely with the Board.
This announcement follows a series of significant events at Indigo. The company faced a cyber-attack this past February which impacted online sales for several weeks and resulted in approximately $50 million loss in the last fiscal year. The attack also compromised banking, medical, and immigration data of current and former employees. On June 7, almost half of the board members left the company, with one member citing mistreatment and loss of confidence in the company leadership. On the same day, Founder Heather Reisman announced her retirement.
Indigo operates 171 retail stores across all ten provinces and one territory in Canada, as well as one store in the United States in Short Hills, New Jersey.
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