Shareholders Overwhelmingly Vote to Elect Transat's Full Slate of Eight (8) Directors
Shareholders1 voted over 90% in support of Transat's resolutions
MONTREAL, March 10, 2026 /CNW/ - Transat A.T. Inc. ("Transat" or the "Company") today announced that shareholders overwhelmingly voted to elect Transat's full slate of eight (8) directors, comprised of four new and four returning directors, at Transat's Annual General and Special Meeting of Shareholders. The four proposals put forward by Financière Outremont Inc. were all defeated.
The Board believes this decisive democratic result provides a clear mandate from shareholders to Transat's management team and reconstituted Board of Directors to continue executing Transat's strategic plan, strengthening the balance sheet, and delivering sustainable long-term shareholder value. It also sends a clear message that shareholders want stability, continuity and disciplined execution as the Company advances its turnaround.
"Shareholders have made their decision, which now guides the Company. We thank them for their decisive vote of confidence in our nominees, management and the clear mandate to stay the course, execute our strategic plan, and continue building long-term value. This outcome delivers the necessary stability, experience and oversight for Transat to complete its multi-year transformation and move to the next phase of its strategy to drive profitable growth," said Daniel Desjardins, Chair of the Board of Transat. "In public markets, proxy contests provide a democratic process for resolving different views. Shareholders are the ultimate decision-makers and the clarity they have provided today will enable governance uncertainty to recede and allow Transat to focus on executing against the expectations of shareholders and the market."
The voting results for the election of the directors are the following:
____________________________ |
1 Excluding Financière Outremont Inc. |
VOTES FOR | VOTES WITHHELD | |||
TRANSAT NOMINEE | (#) | ( %) | (#) | ( %) |
Ms. Christiane Bergevin | 13,868,122 | 74.55 % | 4,735,017 | 25.45 % |
Mr. Daniel Desjardins | 13,810,928 | 74.24 % | 4,792,211 | 25.76 % |
Ms. Marie-Pierre Dhers | 13,825,246 | 74.31 % | 4,779,314 | 25.69 % |
Mr. Michael R. DiLollo | 13,609,436 | 73.15 % | 4,995,124 | 26.85 % |
Mr. Vincent Duhamel | 13,663,889 | 73.45 % | 4,939,250 | 26.55 % |
Ms. Annick Guérard | 13,611,986 | 73.16 % | 4,992,574 | 26.84 % |
Mr. Stéphane Lefebvre | 13,576,258 | 72.98 % | 5,026,881 | 27.02 % |
Mr. Bruno Matheu | 13,383,586 | 71.94 % | 5,219,553 | 28.06 % |
FINANCIÈRE | ||||
Mr. André Brosseau | 4,664,086 | 25.12 % | 13,904,719 | 74.88 % |
Mr. Jean-Marc Léger | 4,627,185 | 24.93 % | 13,937,183 | 75.07 % |
Mr. Pierre Karl Péladeau | 5,024,320 | 27.07 % | 13,534,664 | 72.93 % |
Other Matters Voted Upon at the Meeting
In addition to the election of directors, shareholders voted to approve the additional 4 (four) items of business put forward by Transat, including to amend the articles to provide for a minimum of eight (8) and maximum of 15 directors on the Board, and, on an advisory and non-binding basis, the Corporation's approach to executive compensation as disclosed in the management proxy circular dated February 9, 2026.
Shareholders did not approve the proposal submitted by the dissident shareholder to amend the Corporation's articles of incorporation to fix the number of directors at six (6).
"We thank our shareholders for their continued commitment to Transat and appreciate the strong support from our retail shareholders, the vast majority of whom voted in favour of the Company's proposals, as well as two of our major shareholders, the Fonds de solidarité FTQ and La Caisse. We also want to recognize the outgoing members of the Board for their leadership during an exceptionally challenging period for the Company and the global aviation industry. Their stewardship helped stabilize the business and position Transat for long-term growth," Desjardins added.
Final voting results for all matters voted on at the Meeting will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca
About Transat
Founded in Montréal in 1987, Transat has achieved worldwide recognition as a provider of leisure travel particularly as an airline under the Air Transat brand. Voted World's Best Leisure Airline by passengers at the 2025 Skytrax World Airline Awards, it flies to international destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Based in Montréal, Transat has nearly 5,000 employees with a common purpose to bring people closer together. (TSX: TRZ) www.transat.com
For more information
Media
Andréan Gagné
Senior Director, Communications, Public Affairs and Corporate Responsibility
[email protected]
514 987-1616, ext. 104071
Financial analysts
Jean-François Pruneau
Chief Financial Officer
[email protected]
514-987-1660, ext. 104567
SOURCE Transat A.T. Inc.
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