Annick Guérard Taking Over From Jean-Marc Eustache as Head of Transat

May 26, 2021 ctn_admin

Legendary Canadian businessman Jean-Marc Eustache is stepping down from his role at Transat, and Annick Guérard is taking over the top spot.

Montreal-based Transat A.T. Inc. announced today the implementation of the succession plan set up for Eustache, who is retiring and handing over the leadership of the Corporation to Guérard, who will be the only woman in charge of a major Canadian airline.

Eustache has been one of the principal architects of the creation of Transat in 1987. With his avant-garde business vision focused on vertical integration, he helped make Transat a world leader in the tourism industry and was inducted into the Canadian Travel Hall of Fame.

The company he built has been the envy of many, as evidenced by the announcement in 2019 of the transaction for its acquisition by Air Canada valuing the company at more than $720 million before the pandemic came to thwart these plans.

“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” said Raymond Bachand, the Lead Director of the Corporation.

“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” he added.

Annick Guérard is appointed as President and Chief Executive Officer starting on May 27, 2021. Guérard has been Transat’s Chief Operating Officer since November 2017.

“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” said Guérard.

Guérard has been Transat’s Chief Operating Officer since November of 2017. She heads all of the company’s operations and commercial activities. With her extensive knowledge of the industry and its issues, combined with her qualities of vision, leadership and effectiveness, she plays a key role in Transat’s development and success.

Guérard joined Transat in 2002, and has served in numerous senior management posts involving strategy, operations, sales and marketing, the digital shift, revenue management, customer service and product development, for several Transat business units.

Guérard previously had a career in engineering consulting in the transportation industry, then served as a senior consultant in operations management for Deloitte Consulting. She holds a bachelor’s degree in civil engineering from Polytechnique Montréal and an MBA from HEC Montréal as well as the designation ICD.D. from the Institute of Corporate Directors. She sits on the boards of Pomerleau and Espace Go theatre.

“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. 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,” Eustache said.

“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” he said.

Eustache is also stepping down from his role on the board of directors. M. 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.

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