Michael Rousseau

Early life

Originally from Cornwall, a small city in the province of Ontario’s eastern region, Michael Rousseau attended York University’s Schulich School of Business in Toronto as a young man, where he eventually graduated with a degree in Business Administration in 1981. He went on to earn a designation as a Chartered Accountant in 1983.

Career

Michael Rousseau began his career by articling at Deloitte Haskins & Sells (now Deloitte Canada) for a brief stint. In 1984, he accepted a job as an accounting manager at United Cigar Stores. Realizing he had a knack for navigating the business world, he moved on to Magna International Inc. in 1986 to lead that company’s financial planning division. However, upon being offered a big promotion, he returned to United Cigar Stores in 1987.

In 1993, Rousseau assumed the role of Chief Financial Officer (CFO) at Silcorp Ltd., where one of his major accomplishments was overseeing the financial restructuring the one of their major possessions; the Mac’s Convenience Stores chain. During his tenure at Silcorp, he also successfully fended off a hostile takeover attempt between 1995 and 1996 by Alimentation Couche-Tard Inc., eventually negotiating a friendly acquisition in 1998. After the acquisition was completed, he was recruited by Moore Corp. Ltd. in Chicago, Illinois as CFO, where he managed financial operations in the business forms and printing services sector.

In 2001, Michael Rousseau returned to Canada to join Hudson’s Bay Company (HBC) as its CFO. He played a crucial role in managing financial strategies and investor relations for some of HBC’s most iconic brands, The Bay and Zellers. His leadership faced a significant challenge in 2005 when InterTech Group, Inc. led a successful hostile takeover bid for HBC. Post-acquisition, Rousseau was appointed President of HBC and led the campaign to reposition the retail giant in the market.

Rousseau’s career took an important turn in 2007 when he joined Air Canada as Deputy Chief Executive Officer and Chief Financial Officer. Over the next decade, he played a critical role in transforming Air Canada into a more modern and efficient company, overseeing its financial strategies and navigating the challenges posed by the North American aviation industry in the early years of the 21st century. His responsibilities comprised the airline’s overall strategic financial direction, including investor relations, treasury and controller’s operations, taxation, pension administration, internal auditing, and corporate real estate, among other matters. Rousseau excelled in this position, even being honoured as Canada’s ‘CFO of the Year’ for 2017 by Financial Executives International Canada, PwC Canada, and Robert Half.

In 2019, Michael Rousseau’s role expanded to Deputy Chief Executive Officer in addition to CFO, and he was charged with managing several significant corporate initiatives, including Air Canada Rouge, a low-cost subsidiary airline of Air Canada designed to operate leisure-oriented routes. In 2021, he was appointed President and CEO of Air Canada, a position he continues to hold to this day.

Beyond his corporate roles, Michael Rousseau serves on the Board of Directors for Resolute Forest Products and has held board memberships in other public companies throughout his career. He also contributes to industry governance as a member of the Board of Governors of the International Air Transport Association. 

Additionally, Michael Rousseau has received the prestigious designations of Fellow Chartered Accountant and Fellow Chartered Professional Accountant as conferred by Chartered Professional Accountants of Ontario, a self-regulating professional association. These recognitions of excellence are given only to those who have demonstrated outstanding achievements and contributions to the profession of accounting and in their community.

Net Worth

Unknown.