Indigo CEO Heather Reisman and half of board of directors step down

Heather Reisman, the founder of popular Canadian retailer Indigo, has announced she's stepping down as the company's executive chairperson and director on August 22.

"The time has come for me to retire from an active role at Indigo," Reisman said in a statement on Wednesday. "Deciding when it is time to move on is one of the toughest decisions a founder must make, but I know this is the right moment for me."

Reisman also said she firmly believes in Indigo being the best in business and will be rooting for the company after spending 25 years building it.

But following her decision, four other directors on Indigo's board said they were also stepping down from their roles.

This includes Dr. Chika Stacy Oriuwa, Anne Marie O’Donovan, Howard Grosfield, and Frank Clegg.

Dr. Oriuwa said she resigned because she lost confidence in board leadership and mistreatment.

The former director did not elaborate on what kind of mistreatment this was.