The recently reconstituted board of directors of Aimia formed an ad hoc Strategic Review Committee, chaired by David Rosenkrantz and including Karen Basian, Charles Frischer and Sandra Hanington, to explore and review strategic alternatives to create lasting shareholder value. The result of that process is a decision by the Board of Directors to focus on long-term investments in public and private companies, on a global basis, through controlling or minority stakes. In light of the different skills required by the change in strategy, the board of directors has appointed Philip Mittleman as interim Chief Executive Officer and Jeremy Rabe has stepped down, effective immediately.

It is expected that the appointment will be made permanent upon closing of the Mittleman Brothers LLC transaction. As previously announced, Aimia's board of directors has formed an ad hoc Investment Committee consisting of Charles Frischer, Philip Mittleman, Michael Lehmann (Chairman), and Jordan Teramo to oversee the company's investments. Chris Mittleman will be added to this committee upon the closing of the Mittleman Brothers transaction.

Members of the ad hoc Investment Committee are highly skilled in capital allocation with decades of experience as professional investment managers with discernible track records of success. Christopher Mittleman will become Chief Investment Officer and will join Aimia's Board of Directors and its ad hoc investment committee upon closing of the transaction.