AIMIA NAMES SENIOR LEADERSHIP TEAM AT CORTLAND INTERNATIONAL

KEY PROMOTIONS ANNOUNCED AFTER THE SUCCESSFUL INTEGRATION OF TUFROPES & CORTLAND 

GLOBAL REBRANDING AS CORTLAND INTERNATIONAL TARGETED BY YEAR-END

TORONTO, Nov. 1, 2023 /CNW/ - Aimia Inc. (TSX: AIM) ("Aimia" or the "Company"), a holding company focused on long-term global investments, announced the appointment of Mr. Stuart Janke as Chief Executive Officer and Mr. Brian Pettipas as Chief Financial Officer of the combined Cortland Industrial and Tufropes businesses under the Cortland International ("Cortland") brand, effective immediately. This follows the planned transitions of interim CEO appointee Jack Wang and interim CFO appointee David Joyce into advisory roles after the integration of the combined business. The business also announced several key promotions to bolster the senior management team (see below).

Mr. Janke brings over 35 years of global experience in the synthetic rope industry, occupying senior leadership and management roles across various business development and operational roles at Cortland. Mr. Janke has led Cortland through several transformational ownership changes and overseen the implementation of Cortland's innovative manufacturing technologies and branded synthetic rope, tether, and sling products. Having resided in Asia Pacific and Australia and led partnerships in China, India, and Southeast Asia, Mr. Janke brings a diverse geographical business experience to lead Cortland's continued global expansion.

Mr. Pettipas is a seasoned finance professional with over 20 years of experience. Mr. Pettipas began his career in public accounting at Grant Thornton, where he became a partner, and has since been a senior executive and finance leader across companies in numerous industries. With deep experience in Mergers and Acquisitions, he has demonstrated an exceptional ability to guide companies through both high-growth phases as well as challenging periods, notably during the 2008 financial crisis and the recent COVID-19 pandemic. Throughout his career, he has collaborated with private equity stakeholders, family-owned investment entities, and entrepreneurial ventures. Additionally, Mr. Pettipas holds designations as a Chartered Public Accountant and Chartered Business Valuator.

In addition to the new CEO and CFO appointments, Cortland has named the following individuals to senior functional roles to propel global growth and operations: Navnath Tarle as COO (India), Keith Siders as VP Operations (Americas), Thanassis Varnava as Global Engineering Director, Myara Martins as Global Chief Quality Director, and Patrick Yerger as VP of Sales (Americas). These individuals are supported by seasoned board members in Asia, Europe, the U.S. and Canada.

Phil Mittleman, Chief Executive Officer of Aimia, commented, "We are thrilled to have established a world-class senior leadership team at Cortland, and we're proud to partner with such talented individuals as we enter this new chapter at Tufropes and Cortland under a unified organization. We would also like to thank Jack and David for their interim leadership through both acquisitions and 100-day plans. We're very encouraged with the progress of this integration and the synergies we are seeing as this process continues. We look forward to great contributions from the combined senior management team at Cortland."

Stuart Janke remarked, "I am tremendously honored to step into the role of CEO of Cortland International and lead this combined business along with our outstanding employees. This is a significant juncture in the company's evolution, and I am deeply committed to driving our vision forward, harnessing the strengths of our teams, and delivering exceptional value to our clients and shareholders."

About Aimia

Aimia Inc. (TSX: AIM) is a holding company that makes long-term investments in private and public businesses through controlling or minority stakes. We target companies with durable economic advantages evidenced by a track record of substantial free cash flow generation over complete business cycles, strong growth prospects, and guided by strong, experienced management teams. Headquartered in Toronto, Canada, Aimia is positioned to invest in any sector, wherever a suitable opportunity can be identified worldwide. In addition, we seek investments that may efficiently utilize the Company's operating and capital loss carry-forwards to further enhance stakeholder value.

For more information about Aimia, visit www.aimia.com.

SOURCE Aimia Inc.

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