Indigo Books & Music Inc. has announced the resignation of its CEO Peter Ruis. He will remain on an a consultant for the next two months while the Board of Directors will be determining the right leader to help move the company forward.
In the interim, Craig Loudon, the Chief Financial Officer, and Damien Liddle, the Senior Vice President and General Counsel, will work closely with the Board, to provide day to day direction.
The Board of Directors says it thanks Ruis for his contributions to the company and “wishes him well as he moves on to new challenges in his career.”
Indigo is a publicly traded Canadian company listed on the Toronto Stock Exchange (IDG). As a book and lifestyle retailer, Indigo offers a curated assortment of books, gifts, home, wellness, fashion, paper, baby and kids products. The Company operates retail stores in all 10 provinces and one territory in Canada, and also has retail operations in the U.S. through a wholly owned subsidiary, operating one retail store in Short Hills, New Jersey.
Retail operations are seamlessly integrated with the company’s digital channels, including the www.indigo.ca website and the mobile apps, which are extensions of the physical stores. The website and app offer customers an expanded assortment of book titles, along with a curated assortment of general merchandise.
The Company supports a separate registered charity, called the Indigo Love of Reading Foundation, which is committed to addressing educational inequality, and more specifically, the literacy crisis in Canada. The Foundation provides resources including new books and learning materials, training, and year-round curation support to help ensure teachers, education staff, school administrators and other key stakeholders have the tools they need to promote literacy in their communities. With the support of the Company, its customers, employees, and suppliers, the Foundation has committed over $35 million to more than 1,000,000 students across Canada since 2004.