Media mogul Pierre Karl Péladeau, who serves as the CEO of Quebecor Inc., is calling for significant changes at Transat A.T. Inc., where he holds the position of the second-largest shareholder. Péladeau advocates for a board shakeup and a comprehensive strategic overhaul of the travel company, which owns Air Transat. He emphasizes the need for “urgent change” within the organization.
In a press release issued on December 1, 2025, Péladeau proposed that Transat’s board be reduced from the current 11 directors to just six. Among these six, he suggests that three new members should be added, which would include himself. This proposed reduction aligns with his vision of a streamlined governance structure aimed at enhancing the company’s operational efficiency.
Furthermore, Péladeau has voiced concerns regarding Transat’s current financial status, labeling its balance sheet as “broken.” He is calling for a restructuring of the company’s finances and insists on the initiation of a strategic review that would primarily focus on senior management and their roles. This review is seen as necessary due to the ongoing challenges that Transat has faced in recent years, including fierce competition in the vacation destination market and a considerable debt load.
Péladeau, through his investment firm Financière Outremont Inc., holds a financial and voting stake of 9.5 percent in Transat. His critiques of the company's leadership are not new; he previously expressed dissatisfaction in 2021 following unsuccessful attempts to acquire the Montreal-based airline.
Despite its challenges, Transat A.T. Inc. made headlines earlier in the year when it announced a major restructuring plan aimed at alleviating pandemic-era debt. This plan included the forgiveness of hundreds of millions of dollars owed, representing a significant step towards stabilizing the company’s financial situation.
The corporate landscape surrounding Transat is dynamically changing, with Péladeau's push for reform likely to significantly impact its future direction. As the company grapples with both internal leadership issues and external competition pressures, Péladeau’s demands for a new governance structure and financial restructuring may play a critical role in its recovery and growth strategy moving forward.
