Aimia announced that the company has appointed Mr. Michael Lehman as the new member of its board of directors effective from June 19, 2020. The company has further added that Mr. Michael Lehman will remain the member of its Board till the organizational election and he will directly report to the Chief Executive Officer Phil Mittleman.
The newly appointed company’s Board of Directors Member, Michael Lehman, has served the investment industry for over 25 years. He was a Portfolio Manager and a Partner at Third Avenue Management for 18 tears. At Third Investment Management, he was the Co-Manager of the Third Avenue Value Fund and Lead Manager of Third Avenue Account Business. Previously, he has also served as the Vice President of Gabelli Funds and Associate Portfolio Manager of private investment portfolios.
Chief Executive Officer of Aimia, Phil Mittleman said, “I am very excited to have a person of Mike’s pedigree and character join the management ranks as President. Mike has had a long and successful career as an executive and an investor, with an extensive history of value creation. Mike has worked tirelessly since joining the board, and has proven to be a valuable asset for Aimia.”
“Aimia is now a lean, focused, nimble, debt-free holding company, with a strong Board of Directors and management team, fully aligned with stakeholders through significant ownership attained through open market purchases totaling over 890,000 shares since the board was reconstituted on February 25, 2020,” Mittleman further added.
“Since then, we have right-sized the corporate cost structure and announced the closing of the transaction with Kognitiv, a letter of intent to extend our partnership with Aeromexico via our stake in PLM (its loyalty program), the acquisition of money manager Mittleman Brothers, LLC, and the acquisition of an approximate 11% stake in Clear Media, a leader in outdoor advertising in China. Stakeholders can continue to look forward to our continued efforts to monetize existing assets, and invest in new ones,” Phil Mittleman concluded.