Air Canada announced on Monday that Chief Executive Officer Michael Rousseau has informed the Board of Directors of his intention to retire by the end of the third quarter of 2026. Rousseau will continue to serve as CEO and as a member of the Board through to his departure date, according to the company.
The Board has been preparing for a leadership transition for more than two years, running an internal development program aimed at grooming high-potential executives for senior roles. In parallel with that internal effort, the Board initiated an external, global search for candidates in January 2026 to identify leaders with the experience and capabilities required to run the Montréal, Québec-headquartered carrier.
As part of the assessment of potential successors, the Board will consider several performance criteria. One specifically noted criterion is the ability to communicate in French. Rousseau has committed to remain available to support the transition process and to help ensure continuity through the change in leadership.
Vagn Sørensen, Chair of the Board of Directors, formally thanked Rousseau for his long service and steady leadership as Rousseau moved through successive senior roles at the company. Sørensen noted Rousseau's progression from Chief Financial Officer to Deputy Chief Executive Officer and then to CEO and Board member, and highlighted several milestones during his tenure.
Those milestones mentioned by the Chair include leadership through the 2007-2008 financial crisis and the COVID pandemic, the acquisition of Aeroplan, actions to restore pension plan solvency, and observable advances in customer centricity and employee well-being priorities. The Board's statement credited Rousseau with contributing across those areas while leading the company.
Rousseau expressed that it has been an honor to work with Air Canada employees and to represent the organization internationally. His service has included time as chair of the Star Alliance chief executive board and as a member of the board of directors of the International Air Transport Association.
To support the succession effort, the Board is working with two organizational consulting firms, Egon Zehnder and Korn Ferry, to manage and advise on the search and selection process. The Board will evaluate both internal candidates who have been part of the development program and external candidates identified through the global search against the stated performance criteria.
The company affirmed that Rousseau will remain involved through the transition period to help facilitate an orderly handover once a successor is selected and ready to assume the role.