by Natasha Lair
Last updated: 7:25 AM ET, Tue December 2, 2025
Pierre Karl Péladeau is renewing his campaign to influence the future of Transat A.T. Inc., calling for sweeping changes to the company’s governance and long-term strategy.
According to reporting from CTV News, Péladeau — CEO of Quebecor and the second-largest shareholder in Transat — is urging the Montreal-based travel company to shrink its board from 11 directors to six.
His proposal includes adding three new members, including himself, pollster and economist Jean-Marc Léger, and Quebecor vice-chair André Brosseau.
Pierre Karl Peladeau (Photo Credit: LinkedIn)
In a statement, Péladeau argued that Transat must overhaul what he called a broken balance sheet and undertake a full strategic review that includes an assessment of senior leadership.
“These actions are necessary to demonstrate the board’s commitment to creating value for shareholders and other stakeholders,” he said.
Péladeau has asked the company to convene a special shareholder meeting by Feb. 6 to vote on the proposed changes.
Transat issued a brief response, stating that while it typically avoids commenting on discussions with individual shareholders, several board members have recently met with Péladeau to discuss “constructive solutions,” including potential adjustments to board composition.
Transat continues to face operational headwinds, including an ongoing labour dispute with its pilots.
The Air Line Pilots Association said Monday it plans to open a strike centre near Montréal-Trudeau Airport, a step toward potential job action.
Péladeau’s renewed push comes after years of tension between the media mogul and Transat. His investment firm, Financière Outremont, holds a 9.5% stake in the company. In 2020 and 2021, he criticized Transat’s direction after his attempts to acquire the company collapsed.
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