Overview of the Company-Air Canada

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Overview of the Company

Air Canada is the largest airline in Canada and the 15th largest commercial airline in the world to day (About Air Canada, 2012). Their headquarters are held and located in Montreal, Quebec. They have three hubs throughout Canada, in Toronto (YYZ), Montreal (YUL and Vancouver (YVR). Air Canada’s main line of work is providing aviation transportation service to customers, along with offering specialty charter services. They provide these services along with incorporating a number of subsidiaries to satisfy the needs of all customers. These subsidiaries include; Air Canada Jetz, Express, Vacations and Cargo. These subsidiaries are implemented to meet the needs of different customers. Services include connecting smaller cities with Air Canada’s domestic hub airports and focus cities, catering to corporate clients and professional sports teams, cargo service, and providing vacation packages to several destinations. (Corporate Profile: Overview March 2012, 2012)

Governance
The board of directors at Air Canada consists of eight persons. These eight persons are responsible for laying down the strategy and general policy of the company. They also ensure that the principles of good governance are respected, while acting as a guide solely by a concern for the interests of the company in relation to entirety of its shareholders, its customers and staff. The boards consist of one CEO, Calin Rovinescu since April 1 2009 and eight other directors acting as independent directors. (Board of Directors, 2012) Calvin Rovinescu

Chief Executing Officer
Coopted April 1 2009 (Board of Directors, 2012)

Bernard Attali
Independent director
Director since November 2006
Member of the Governance and Corporate Matters Committee, member of the Human Resources and Compensation Committee, and member of the Nominating Committee. (Board of Directors, 2012)

Michael M. Green
Independent Director
Director since March 2009
On the Chair of the Audit, Finance and Risk Committee, Member of the Human Resources and Compensation Committee, Member of the Nominating Committee and Member of the Pension Committee. (Board of Directors, 2012)

Jean Marc Huot
Independent Director
Director since May 2009
Member of the Governance and Corporate Matters Committee, and Member of the Pension Committee. (Board of Directors, 2012) Pierre Marc Johnson
Independent Director
Director since November 2006
On the Chair of the Pension Committee, Member of the Governance and Corporate Matters Committee and Member of the Human Resources and Compensation Committee. (Board of Directors, 2012)

Joseph B. Leonard
Independent Director
Director since May 2008
Member of the Audit, Finance and Risk Committee, Member of the Human Resources and Compensation Committee and Member of the Pension Committee. (Board of Directors, 2012)

Vagn Sørensen
Independent Director
Director since November 2006
On the Chair of the Human Resources and Compensation Committee, Member of the Audit, Finance and Risk Committee and Member of the Pension Committee. (Board of Directors, 2012)

David I. Richardson
Independent Director
Director since September 2004
On the Chair of the Nominating Committee since January 2008. (Board of Directors, 2012)

Roy J. Romanow
Independent Director
Director since February 2010
On the Chair of the Governance and Corporate Matters Committee, and Member of the Audit, Finance and Risk Committee. (Board of Directors, 2012)

Committees
The Board has five standing committees:
• The Audit, Finance and Risk Committee;
• The Pension Committee;
• The Governance and Corporate Matters Committee;
• The Human Resources and Compensation Committee; and
• The Nominating Committee. (Corporate Profile: Overview March 2012, 2012)

The five committees of the Board are composed of independent directors. The roles and responsibilities of each committee are set out in formal written charters. These charters are reviewed annually...
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