The airline's board says a leadership development program and external search have been underway for more than two years.

Air Canada's Board of Directors announced that President and CEO Michael Rousseau will retire by the end of the third quarter of 2026, closing out nearly twenty years with the airline. Rousseau will continue leading the company and sitting on its board until his departure, the board said, to ensure a structured handover.

A long-planned transition

The board says CEO succession has been a longstanding priority, with an internal development program for high-potential executives running for more than two years, alongside an external global search launched in January 2026 to widen the candidate pool.