Then-Air Canada CEO Calin Rovinescu attends a Canada-India Business Council Diwali dinner in Toronto on Oct. 17, 2017.The Canadian Press
Former Air Canada CEO Calin Rovinescu has joined Brookfield Asset Management Inc.’s private equity division as an adviser, his latest post-retirement role.
Brookfield says Mr. Rovinescu will serve as a senior adviser to the private equity group “and Brookfield more broadly, in sourcing and executing on attractive global investment opportunities, with a particular focus on the aviation and aerospace sectors.” He’ll also assist with operations improvements at all Brookfield-owned companies.
Mr. Rovinescu joined Bank of Nova Scotia’s board in November. He’s also served on the BCE Inc. board since 2016. Teneo, a CEO advisory firm, said earlier this month that he would have a non-executive advisory role.
Mr. Rovinescu left Air Canada last month after 12 years as CEO.
As a lawyer, Mr. Rovinescu advised Air Canada for more than two decades, successfully fending off a hostile takeover offer from Onex Corp. in 1999. He first joined the airline from 2000 to 2004 as head of strategy, then chief restructuring officer. He left to work as an investment banker and was recruited back for the top job five years later.
He is widely credited with turning around Air Canada after the 2008-09 financial crisis. Its stock price rose from 78 cents when he rejoined the airline to record highs of $52 in January, 2020, before tumbling as the COVID-19 pandemic shut down flights.
He also has served as a managing partner of the Montreal office of law firm Stikeman Elliott.
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David Milstead