Indigo’s CEO Peter Ruis is resigning in the latest shakeup in the retailer’s leadership ranks.
Though the resignation is effective immediately, Ruis has agreed to serve as a consultant for the next two months to ensure a smooth transition in leadership. In the interim, Craig Loudon, the retailer’s CFO, and Damien Liddle, SVP and general counsel, will work closely with the company’s board to provide day-to-day direction.
Ruis, previously the company’s president, took on CEO duties last year as part of a transition plan from then-CEO and company founder Heather Reisman, who was moving into a role as executive chair.
That plan also involved chief customer and digital officer Andrea Limbardi becoming president, but she would leave Indigo in June to become president and CEO of fashion retailer Reitman’s. Limbardi assumed her new role earlier this week.
Also in June, five of Indigo’s board members – including Reisman – announced their intention to step down from their roles. Reisman said at the time that she was retiring, while Dr. Chika Stacy Oriuwa, one of the directors, said in a company release that her decision was a result of “her loss of confidence in board leadership and because of mistreatment.”
In August, Indigo unveiled a total lifestyle emporium concept store, focused on lifestyle offerings, as well as beer, wine and vinyl listening rooms.
The same month, Indigo reported a steep quarterly revenue decline of 12% to $179.2 million, with sales negatively affected by the carryover impacts of the ransomware attack that occurred in the fourth quarter of fiscal 2023.