Latest news with #JaimeBoldt
CTV News
5 days ago
- Business
- CTV News
REAL lays off 7 members of ‘senior management' as part of restructuring
Jaime Boldt, chair of the board of directors for the Regina Exhibition Association Limited (REAL), speaks to reporters on June 3, 2025. Seven people have been relieved of their duties at the Regina Exhibition Association Limited (REAL) as part of restructuring at the embattled organization. The staffing changes were confirmed by Jaime Boldt, the chair of REAL's board of directors, following a special city council meeting on Tuesday. The layoffs come as the company works to restructure itself towards a more 'efficient' and 'financially responsible' organization. 'Going back to the mandate that we were given, the motion that was passed a few months ago was asking REAL to go back to the business model – and to look at it and that's what we did,' Boldt told reporters. 'That in-turn led us to a point where we needed to take a really hard look at the structure.' REAL parted ways with the employees on Monday, June 2. Boldt did confirm the seven employees were part of the organization's senior leadership and that their positions were being completely eliminated. 'We also recognize that this impacted people's lives. You know we're talking about positions, we're talking about that, but these are people,' Boldt noted. 'I really want to stress that this was really important to us. It wasn't done without careful consideration and support of the board. Yesterday was not an easy day for many people.' The changes come as REAL is expected to name a permanent CEO in the coming days. 'We are very excited to be making that announcement early next week. Stay tuned,' Boldt added. REAL is due to announce its plans and concert lineups for the 2025 Queen City Ex on Friday, June 6.
Yahoo
5 days ago
- Business
- Yahoo
Seven senior leadership positions eliminated at REAL in 'restructuring'
Regina Exhibition Association Limited (REAL) has eliminated several upper management roles as part of an ongoing effort to update how it operates as an arms-length municipal entity. The organization operates the REAL sports complex and exhibition grounds for the City of Regina. Seven senior-level positions were terminated on Monday as part of a 'reorganization and restructuring,' REAL board chair Jaime Boldt confirmed on Tuesday. The eliminated roles were not provided. 'We recognize that this impacted people's lives,' she told media. 'I really want to stress that was important to us, and it wasn't done without careful consideration and support of the board.' Boldt said the layoffs were the next step in REAL's ongoing internal work to review its governance model and become financially stability, as directed by city council last June. 'That's what we did. That, in turn, led us to a point where we needed to take a really hard look at the structure,' Boldt said. 'Yesterday (Monday) was not easy for many, many people and we appreciate that. But this is a business decision, and we believe it's the right thing for REAL.' She said the positions have been rolled into a new management structure that aims 'to create efficiencies and be more financially responsible in the operations of REAL.' City council's directive for internal changes was the culmination of months of critical attention on REAL. That followed a failed tourism campaign that drew international attention for its 'sexist' undertones. The organization later revealed it has been running deficits since 2021. REAL has also been granted $15.4 million in funding top-ups from the city to cover its deficits in the last two years. City administration is separately exploring its own report on the future of the corporation. That includes assessing the risks to the city as REAL's sole stakeholder if the organization were to dissolve. During a special city council meeting Tuesday, Boldt noted an announcement is coming next week about REAL's efforts to hire a new president and CEO. lkurz@ REAL to stay, new board and financial plan to come this fall REAL's new interim CEO pulls 'inappropriate' comment from consulting website The Regina Leader-Post has created an Afternoon Headlines newsletter that can be delivered daily to your inbox so you are up to date with the most vital news of the day. Click here to subscribe. With some online platforms blocking access to the journalism upon which you depend, our website is your destination for up-to-the-minute news, so make sure to bookmark and sign up for our newsletters so we can keep you informed. Click here to subscribe.
