Indigo founder Heather Reisman retires, almost half of board steps down
Indigo Books and Music founder Heather Reisman introduced she is retiring as virtually half of the ebook retailer’s board of administrators steps down.
“The time has come for me to retire from an active role at Indigo,” Reisman stated in a news launch on Wednesday.
Heather Reisman, 2022 inductee, poses for {a photograph} on the crimson carpet for the 2022 Canada’s Walk of Fame Gala in Toronto, on Saturday, December 3, 2022. THE CANADIAN PRESS/ Tijana MartinOn Aug. 22, she plans to retire.
She based the Toronto-based ebook store 25 years in the past with the primary location in Burlington, Ont. Since then, Indigo has grown into the biggest ebook retailer in Canada after merging with Chapters in 2001.
Her “Heather’s Picks” part of the shop, which marks books she has learn and liked with a sticker of approval, has turn out to be a cornerstone for the corporate. Aside from books, the corporate dove into magnificence and wellness items, and residential decor lately.
“Deciding when it is time to move on is one of the toughest decisions a Founder must make, but I know this is the right moment for me,” she said.
Her departure comes alongside directors Frank Clegg, Howard Grosfield, Anne Marie O’Donovan and Dr. Chika Stacy Oriuwa stepping down. That translates to four of the company’s 10 directors.
Oriuwa indicated she was resigning “because of her loss of confidence in board leadership and because of mistreatment,” in the Wednesday news release. The physician was appointed to the board in 2020 as a “knowledgeable voice to inform diversity and inclusion efforts,” Reisman said at the time.
“I have full confidence and respect for Peter Ruis, CEO of Indigo, faith in his management team and executive strategy,” Oriuwa instructed CTV News Toronto on Wednesday. Ruis took over Reisman’s position as CEO in 2022.
Indigo was in a state of turmoil earlier this yr when a cyberattack shocked the corporate in February, forcing its web site and fee methods to quickly halt.
Indigo didn’t instantly reply to an inquiry about why the remaining administrators have been leaving.
Reisman’s alternative has not been introduced.
