Jean-Marc Eustache, one of the principal architects of Transat, is retiring and Annick Guérard has been named president and CEO of the company.
Transat was launched in 1987 and Eustache’s business vision focused on vertical integration, and made Transat into a world leader in the tourism industry.
Raymond Bachand, the Lead Director of the Corporation, observed that: “With the crisis resulting from the COVID-19, we were most happy to have been able to rely on all of Jean-Marc’s experience and wisdom to face the worse storm in the history of Transat and the tourism industry, until the implementation of the critical $700 million financing announced on April 29, 2021 which will provide Transat with the funds it needs to relaunch its operations on solid grounds once it emerges from the pandemic-induced restrictions.”
Bachand added: “We are grateful to Jean-Marc for his contribution and his unwavering dedication throughout his tenure at Transat, and we now hope that he can fully enjoy his well-deserved retirement.”
Annick Guérard has been named as President and Chief Executive Officer and begins her duties today (May 27, 2021). Guérard has been Transat’s Chief Operating Officer since November 2017.
Guérard observed: “Jean-Marc has been a pillar of the company since its beginnings more than thirty years ago, and we want to continue to make this jewel that he leaves us shine for several decades to come.”
For his part, Eustache said: “I leave the company in the good hands of Annick Guérard, who has my full confidence as well as that of the rest of the management team and the Board of Directors.”
Eustache continued: “I have no doubt that, under her leadership, Transat will accomplish great things and once again become a formidable competitor admired by all. I am proud to have brought Transat to where it is now, and to have been able to secure the funding that allows it to face its future with confidence.”
Said Eustache: “It is now time to make room for new decision-makers, as Transat will deploy the plan that will once again make it a solid, profitable company and, for a long time to come, the symbol of leisure travel in the eyes of its many customers, in Quebec and elsewhere.”
Eustache is also stepping down from his role on the board of directors. Raymond Bachand will succeed him as Chairman of the Board and Guérard will join the Board of Directors.
These changes will also be effective as of May 27, 2021.