Indigo Announces CFO Transition

TORONTO, Jan. 7, 2019 /CNW/ - Indigo Books & Music Inc. (TSX: IDG), Canada's largest book, gift and specialty toy retailer has today announced the forthcoming departure of Mr. Hugues Simard, the company's Chief Financial Officer, and the appointment of Mr. Craig Loudon, Indigo's Executive Vice President and Chief Supply Chain Officer, as his successor effective February 5, 2019. Mr. Simard will continue to serve in his role through January and early February to facilitate a smooth transition of responsibilities.

Commenting on the changes Indigo Founder and CEO Heather Reisman said, "Hugues has been a valuable contributor and wonderful friend to the Indigo team during his tenure and we wish him well. We are at the same time extremely pleased to promote Craig into the role as CFO."

Mr. Loudon has held progressively senior Finance and Supply Chain roles since joining Indigo in August 2014.  He has a deep knowledge of all aspects of the business and has made increasingly significant contributions to the Company.  Mr. Loudon holds an MBA from INSEAD, and a Bachelor of Commerce from McGill University.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are forward-looking statements which involve risk and uncertainties that could cause results to differ materially from those expressed in the forward-looking statements. Among the key factors that could cause such differences are: general economic, market or business conditions; competitive actions by other companies; changes in laws or regulations; and other factors, many of which are beyond the control of the Company.

About Indigo Books & Music Inc.

Indigo is a publicly traded Canadian company listed on the Toronto Stock Exchange (IDG). As the largest book, gift and specialty toy retailer in Canada, Indigo operates in all provinces under different banners including Indigo Books & Music; Indigospirit; Chapters; and Coles. The online channel, , offers a one- stop online shop with a robust selection of books, toys, home décor, stationery, and gifts.

Indigo founded the in 2004 to address the underfunding of public elementary school libraries. Every year the Indigo Love of Reading Foundation provides grants to high-needs elementary schools so they can transform their libraries with the purchase of new books and educational resources. To date, the Indigo Love of Reading Foundation has committed over $29 million to 3,000 elementary schools, benefitting more than 900,000 students.

To learn more about Indigo, please visit the Our Company section at .

SOURCE Indigo Books & Music Inc.