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Aimia CFO to leave

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Aimia CFO to leave

Aimia Inc. CFO Mark Grafton will leave the company in May.

The company's board named Vice President of Finance and Chief Accounting Officer Steven Leonard as CFO, effective May.

Robert Brown, who was named chairman in 2008, retired from the board, effective March 28. Bill McEwan, who has been a director since 2016, will take on the role of chairman.

Roman Doroniuk also retired from the board, effective March 28.

The board also approved a substantial issuer bid of up to C$150 million to repurchase a portion of the company's outstanding common shares for cancellation. The company expects to formally start the substantial issuer bid by mid-April with an expiry date occurring before the end of May.

The company's special committee of independent directors has concluded its strategic review on Aimia's future direction and capital allocation priorities, recommending that it should pursue a combination of organic growth and sector-focused M&A to grow its position in the loyalty and travel markets.