Jean-Marc Eustache is retiring as chair and chief executive of TransatAT Inc., the travel company which he helped start and build. Eustache was one of the principal architects of the creation of Transat in 1987. With a vision focused on vertical integration, he helped make Transat a leader in the tourism industry.

In 2019 the company was valued at more than $720 million for its acquisition by Air Canada before the pandemic ended those plans.

Annick Guérard is appointed as President and Chief Executive Officer effective 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.

“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. 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” said Eustache.

Eustache is also stepping down from his role on the board of directors. Raymond Bachand, the Lead Director of the Corporation, 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.