John Kim Retires as CFO of Cargojet

MISSISSAUGA, ON, April 7, 2021 /CNW/ - Cargojet Inc. ("Cargojet" or the "Corporation") (TSX: CJT) announced today that its Chief Financial Officer, John Kim, will retire at the end of May 31, 2021.

Although Mr. Kim has announced his retirement, he will continue to operate as a consultant to the Corporation with focus on Capital Markets and Investor Relations and to ensure a smooth transition. The Corporation named Mr. Sanjeev Maini, its current Vice President of Finance as the interim CFO while it conducts a formal search process. Mr. Maini has been with the company since inception and prior to being promoted as Vice President, Finance served as the Controller of the Corporation and is well equipped to support Cargojet's ambitious growth strategy.

"We wish John the very best in his future endeavors and sincerely thank him for his many contributions during his tenure at Cargojet," said Dr. Ajay Virmani, President and CEO of Cargojet. "John was instrumental in helping the Corporation navigate during its early years of growth and successfully delivered several projects".

"I am fortunate to have been part of such a talented team, and want to thank the Board and the investment community for their support all through my tenure. Although I am retiring from my active role, I am committed to ensuring a smooth transition and will remain fully engaged on capital markets and investor relation areas during this process." said John Kim.

Cargojet is working through a formal search process to identify a permanent replacement and expects to conclude it by the second quarter.

About Cargojet

Cargojet is Canada's leading provider of time sensitive premium air cargo services to all major cities across North America, providing Dedicated ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 28 Cargo aircraft.

Notice on Forward Looking Statements: 

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests" and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Reference should be made to the issuer's most recent Annual Information Form filed with the Canadian securities regulators, and it's most recent Annual Consolidated Financial Statements and Notes thereto and related Management's Discussion and Analysis (MD&A), for a summary of major risks. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. The issuer assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason, other than as required by applicable securities laws. In the event the issuer does update any forward-looking statement, no inference should be made that the issuer will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

SOURCE Cargojet Inc.