Indigo Books & Music Announces Return of Founder as CEO

Indigo Books & Music experienced a surge in its stock price after announcing that founder Heather Reisman will be returning to lead the company following a brief retirement. At 11:23 a.m. ET, shares were trading nearly 19% higher at 1.60 Canadian dollars ($1.18) a share.

Reshuffling the C-Suite

In a recent board meeting, Reisman was appointed as the new CEO, marking a significant change in the company's leadership. This announcement follows the departure of Peter Ruis as CEO earlier this month. Last year, Ruis took over the role from Reisman, who transitioned to the position of executive chair. Additionally, Andrea Limbardi succeeded Ruis as president.

New Chair of the Board

Markus Dohle, who has been part of the Indigo board since June, will now assume the role of chair of the board of directors. Dohle brings extensive experience from his previous position as CEO of Penguin Random House, where he worked for 15 years.

Strengthening the Leadership Team

In addition to these changes, Indigo has appointed Craig Loudon, currently serving as chief financial officer, to the role of chief operating officer. Loudon will continue to fulfill his CFO responsibilities and lead the finance team.