07:28:51 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



Indigo Books & Music Inc
Symbol IDG
Shares Issued 27,666,558
Close 2023-10-24 C$ 2.07
Market Cap C$ 57,269,775
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Globe says Indigo CEO Reisman aims to stay on a while

2023-10-25 08:03 ET - In the News

The Globe and Mail reports in its Wednesday edition that Heather Reisman is proclaiming her intentions to lead a turnaround at Indigo Books & Music -- committing to stay on as chief executive officer for a minimum of three years, and to remain for as long as possible on its board of directors. The Globe's Susan Krashinsky Robertson and Temur Durrani write that Ms. Reisman says she plans to lead "a major transformation process" at the country's largest bookstore chain, after months of upheaval that included departures of board members and senior executives, a debilitating cyberattack and widening financial losses. Ms. Reisman says: "I'm here for a minimum of three years as CEO. I would expect to remain on the board as long as I'm alive and fully cogent. So I expect to be engaged with this business for a very, very long time." Ms. Reisman says she and her husband, Gerry Schwartz -- Indigo's controlling shareholder -- have no plans to sell the Toronto-based company, and believe that it should remain Canadian-owned. She adds: "Not only do we have no intention of selling it; we intend to invest in the business. I can tell you I am committed; your two major shareholders are committed. That's why I'm here."

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