20:17:45 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Indigo Books & Music Inc
Symbol IDG
Shares Issued 27,666,558
Close 2023-12-11 C$ 1.69
Market Cap C$ 46,756,483
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NP says founder's retirement from Indigo was a bust

2023-12-11 09:20 ET - In the News

The National Post reports in its Saturday edition that Heather Reisman's retirement from Indigo Books & Music did not unfold as planned. The Post's Steven Beattie writes that in June, the founder and chairman of Indigo, the country's largest book retailer, said she would be officially stepping down on Aug. 22, just six days before her 75th birthday. Her departure in August was meant to be a final farewell to the company she had created and ruled since the first Indigo location opened in Burlington, Ont., in 1997. Throughout her extended departure, she expressed confidence she was handing the helm of her prized company to a strong leader, Peter Ruis, with more than three decades of experience in retail. Three weeks into her supposed "retirement," Indigo issued a press release stating Ms. Reisman was returning to the helm as chief executive officer. In October, Ms. Reisman suggested her return was intended to mark a course correction for a company that, in her words, "took a journey off brand." She said at the time, "It turns out succession is really hard." She now says, "Part of our issue is bringing books overall back to the centre of our dialogue everywhere: on-line, in-store, in our marketing."

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