Media magnate Pierre Karl Péladeau is demanding a board shakeup and a strategic overhaul at Transat A.T. Inc., as well as a seat at the table.
Péladeau, Transat’s second-largest shareholder and the CEO of Quebecor Inc., says the travel company needs “urgent change.”
In a release Monday, he said the board should be reduced to six directors — with him among three new members — from 11 currently.
He is also asking for Transat, which owns Air Transat, to restructure a balance sheet he deems “broken” and launch a strategic review that puts senior management in its sights.
Péladeau, whose investment firm Financière Outremont Inc. holds a 9.5 per cent financial and voting stake in Transat, has criticized its leadership before, most recently in 2021 after his bids to buy the Montreal-based company failed.
Transat has struggled in recent years amid stiff competition for vacation destinations and big debt burden, though it announced a major restructuring of pandemic-era debt earlier this year that forgives hundreds of millions of dollars owed.
This report by The Canadian Press was first published Dec. 1, 2025.
Christopher Reynolds, The Canadian Press
