Calin Rovinescu

Calin Rovinescu CM (born September 16, 1955), is the president and chief executive officer of Canada's largest airline, Air Canada, having led the company since April 2009. He has announced that he would be retiring from his current role in February 2021.[1]

Calin Rovinescu CM
Rovinescu in 2015
Born	September 16, 1955 Bucharest, Romania
Nationality	Canadian
Alma mater	McGill University (CEGEP (DEC), 1974) Université de Montréal (LL.L, 1978) University of Ottawa (LL.B, 1980)
Occupation	President and CEO of Air Canada

Early life and education

Rovinescu was born in Bucharest, Romania. He immigrated to Canada with his parents and sister when he was five years old.[2] In 1974, he received his CEGEP (DEC) degree from McGill University. In 1980, Rovinescu graduated from the University of Ottawa where he received his LL.B. (Common Law). In 1978, he graduated from the Université de Montréal where he received his LL.L. (Common Law).[3]

Rovinescu has been awarded honorary doctorate degrees from six institutions: Université de Montréal,[4] University of Ottawa,[5] Concordia University in Montreal,[6] University of Windsor,[7] Pepperdine University in California,[8] and Politehnica University of Bucharest.[9]

Career

Before joining Air Canada, Rovinescu was the managing partner of Montreal law firm Stikeman Elliott LLP, and for over 20 years practiced in the areas of corporate finance and mergers and acquisitions. While a lawyer at Stikeman Elliott LLP, Rovinescu served as lead external counsel on Air Canada's privatization and public offering in 1988 and continued advising the airline on significant transactions and events thereafter.[10] He is a member of the Quebec and Ontario Bar Associations.[11]

Rovinescu first joined Air Canada in 2000 as its Executive Vice President of Corporate Development and Strategy[3] and served as its Chief Restructuring Officer during its 2003–2004 restructuring.[10] Between 2004 and returning to Air Canada in 2009, Rovinescu was a co-founder and principal of independent investment bank Genuity Capital Markets,[11] which subsequently merged with Canaccord Capital to form Canaccord Genuity Group.

Rovinescu was elected chairman of the Star Alliance chief executive board,[12] the controlling body of Star Alliance, the world's largest global airline alliance, and served in that role from 2012 to 2016.[3] He has also been a member of the board of governors of the International Air Transport Association,[13] a global trade association representing some 240 airlines since 2010. He served as chairman of IATA from June 2014 to June 2015.[3]

He also serves on the board of directors of BCE Inc., Canada's largest telecom and media company[14] as well as on the board of directors[15] of the Business Council of Canada (BCC), an organization composed of the CEOs of Canada's largest enterprises, representing all sectors of the Canadian economy.

Rovinescu is broadly credited with having saved Air Canada from bankruptcy and having set it on a course for sustainable profitability, better labour relations and continued success.[16] In the ten years following his appointment, Air Canada's shares had appreciated more than 4,000%[17] and the airline had achieved record revenues, record profitability and carried a record number of passengers.[18] Its common shares had the greatest share price appreciation of all companies listed on the Toronto Stock Exchange over the decade ended December 31, 2019. It has expanded dramatically and serves 220 destinations on all six inhabited continents. During his tenure, Air Canada was recognized by Skytrax as the Best Airline in North America in eight out of ten years, and as the only four star network carrier in North America.[19] In addition, it won numerous other awards including Air Transport World's 2018 Eco Airline of the Year[20] and is one of Canada's Top Employers.[21]

The Globe and Mail's Report on Business magazine named Rovinescu Canada's best CEO of 2013[10] and again in 2019, the only two-time winner of this award. In addition, in 2016, he was named Canada's Outstanding CEO of the Year by Financial Post Magazine,[22] the country's preeminent award for chief executives, founded in 1990 to identify and recognize exemplary leadership and achievement in business.

In 2018, Flight Global presented Rovinescu with the Global Executive Leadership Award at the 2018 Airline Strategy Awards in London, England, the airline industry’s leading recognition for CEOs of global carriers. He was recognized for his "strong and unwavering leadership of Air Canada."[23]

Also in 2018, Rovinescu was recognized with the CEO lifetime achievement Award at the Airline Passenger Experience Association (APEX) expo in Boston, and named the first CEO from the Americas to be presented with the Award by APEX.[24]

In 2019, Tourisme Montreal presented Rovinescu with their highest honour, the Tribute Award, for his contribution to the development of Montreal and the Conseil du Patronat inducted him into its Entrepreneurs’ Club, amongst the significant leaders of Quebec business.[25] Also in December 2019, it was announced that he would be inducted as a Companion into the Canadian Business Hall of Fame.[26]

On October 3, 2019, together with his wife Elaine, he announced the creation of the Rovinescu Admission Scholarships for new Canadians, to benefit students at both the University of Ottawa and Université de Montréal through a gift of $2M, to be divided equally between the two institutions. The Rovinescu Scholarships will provide first-generation Canadians or children of immigrants, with the opportunity to pursue a bachelor’s or professional degree designation at either university.[27]

Since November 9, 2015, he was named 14th Chancellor of the University of Ottawa, replacing former Governor General Michaëlle Jean.[28]

Rovinescu was appointed a member of the Order of Canada[29] for promoting the associated charitable causes and organizations of Canada's largest airline, and for his leadership in spearheading humanitarian relief following several natural disasters.[30]

References

1. https://www.bnnbloomberg.ca/air-canada-ceo-calin-rovinescu-to-retire-in-february-1.1509127
2. "Air Canada introduces direct flight between Montreal and Bucharest". Romania-Insider.com. September 29, 2017. Retrieved September 30, 2017.
3. "Air Canada Corporate Executives". www.aircanada.com. Retrieved 9 May 2019.
4. "L'Université de Montréal décerne 5 doctorats honorifiques à des personnalités d'exception". nouvelles.umontreal.ca. 26 April 2019. Retrieved 9 May 2019.
5. "Calin Rovinescu". Office of the President. Retrieved 9 May 2019.
6. Concordia awards honorary doctorates to 4 distinguished Canadians,
7. "University to honour eight with honorary degrees during Spring Convocation". DailyNews. Retrieved 9 May 2019.
8. "Honorary Doctorate Recipients – Pepperdine Graziadio Business School". bschool.pepperdine.edu. Retrieved 9 May 2019.
9. AGERPRES. "Preşedintele Air Canada – Doctor Honoris Causa al Universităţii Politehnica București". www.agerpres.ro. Retrieved 9 May 2019.
10. Globe and Mail, Why this airline chief is Canada's best CEO of 2013
11. Flight Global, Calin Rovinescu – Air Canada
12. Financial Post, Air Canada chief gets key role at global airline group Star Alliance
13. Financial Post, Air Canada CEO Calin Rovinescu named new chairman of IATA
14. "BCE nominates Monique Leroux and Calin Rovinescu to its Board of Directors; Director Gordon Nixon to be appointed Chair of the Board". www.bce.ca. Retrieved 9 May 2019.
15. CCCE, Board Members
16. Magazine, Financial Post (11 November 2014). "How Calin Rovinescu saved Air Canada — and set it on a smoother course – Financial Post". financialpost.com. Retrieved 9 May 2019.
17. Air Canada has set higher financial expectations through 2021
18. "Air Canada profit climbs on record passenger numbers, new routes". Retrieved 9 May 2019 – via The Globe and Mail.
19. Air Canada named Best Airline in North America for second consecutive year,
20. "2018 Winners". awards.atwonline.com. Retrieved 9 May 2019.
21. "Top Employer: Air Canada". content.eluta.ca. Retrieved 9 May 2019.
22. Magazine, Financial Post (1 November 2016). "Canada's outstanding CEO of the year: Air Canada's Calin Rovinescu – Financial Post". financialpost.com. Retrieved 9 May 2019.
23. "Airline Strategy Awards recognise Air Canada and AerCap chiefs". Flightglobal.com. 15 July 2018. Retrieved 9 May 2019.
24. Group, Travelweek (25 September 2018). "Air Canada CEO honoured at APEX EXPO – Travelweek". travelweek.ca. Retrieved 9 May 2019.
25. "Prix Distinction 2019 - Tourisme Montréal celebrates excellence and pays a special tribute to Air Canada's Calin Rovinescu". Cision. March 22, 2019. Retrieved October 2, 2020.
26. "2020 Canadian Business Hall of Fame Inductees Announced". Cision. December 19, 2019. Retrieved October 2, 2020.
27. "Air Canada CEO launches $2M scholarship for uOttawa and l'Université de Montréal students". Cision. October 6, 2019. Retrieved October 6, 2020.
28. "Reaching higher altitudes with new chancellor Calin Rovinescu". Gazette. Retrieved 9 May 2019.
29. General, Office of the Secretary to the Governor (29 June 2018). "Order of Canada Appointments". The Governor General of Canada. Retrieved 9 May 2019.
30. "8 Concordians among newest Order of Canada honourees". concordia.ca. Retrieved 9 May 2019.