Calin Rovinescu, new president and chief executive officer of Air Canada, “is not a traditional airline guy,” one analyst said Tuesday. But he is no stranger to Canada's dominant airline, or the turbulence it once again finds itself in.
As a corporate lawyer and managing partner with the law firm Stikeman Elliott, Mr. Rovinescu advised Air Canada in its successful 1999 defence against a hostile takeover bid by Onex Corp. and its partner, American Airlines Inc.
The following year, 2000, Mr. Rovinescu joined the airline as executive vice-president for corporate development and strategy. He subsequently served as chief restructuring officer.
“In the latter role, Mr. Rovinescu was a key figure in the company's emergence from [Companies' Creditors Arrangement Act],” analyst Ben Cherniavsky of Raymond James Ltd. said in a research note Tuesday. “We remember him as an impressive figure with a sharp mind and a keen understanding of corporate strategy.”
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