MONTREAL – Transat A.T. Inc. has set March 10 for a shareholder meeting to vote on a board overhaul and other changes sought by Pierre Karl Péladeau, the travel company’s second-largest shareholder and the CEO of Quebecor Inc.
The company says the meeting is being called in direct response to Péladeau’s request and will also deal with its regular annual business.
Péladeau had asked for a meeting by Feb. 6, however Transat says that would have meant two shareholder meetings in short succession dealing with overlapping issues.
Transat says holding the meeting earlier than March 10 would also require it to divert substantial time and resources to prepare on an unduly compressed timeline.
Péladeau has said the board should be reduced to six directors — with him among three new members — from 11 currently. He has further asked for Transat, which owns Air Transat, to restructure its “broken” balance sheet and launch a strategic review.
Péladeau’s investment firm Financière Outremont Inc. owns 9.5 per cent of Transat.
This report by The Canadian Press was first published Dec. 15, 2025.
Companies in this story: (TSX:TRZ)
