Transat AT Inc. | Election of Jean-Marc Léger as a director at Transat AT Inc.

Status
24.94% votes in favour
AGM date
Proposal number
3
Resolution details
Company ticker
TRZ:CN
Submitted by
Financière Outremont
Resolution ask
Amend board structure
ESG theme
  • Governance
ESG sub-theme
  • Corporate purpose
Type of vote
Director vote
Filer type
Management
Company sector
Industrials
Company HQ country
Canada
Resolved clause
BE IT RESOLVED THAT: 1. Jean-Marc Léger be elected as a director of the Company to hold office until the close of the next annual meeting of shareholders of the Company or until his successor is elected or appointed.
Supporting statement
Financière Outremont Inc. (“Financière Outremont”), an investment company held by Mr. Pierre Karl Péladeau, is the second largest shareholder in Transat with an investment representing approximately a 9.49% economic and voting interest. Financière Outremont’s significant and long-standing investment in the Company is rooted in the firm belief that, under the right Board leadership, Transat has the potential and opportunity to restore its financial resilience, significantly improve shareholder return while maintaining its strong brand and leadership position amongst the leisure airline carriers for Quebec and Canadian consumers. Financière Outremont believes that an optimized Board can be built around six highly qualified and appropriately experienced members, including the three (3) newly appointed highly qualified and appropriately experienced independent directors of whom Mr. Léger is one. He is a market research, marketing and consumer behaviour expert with insights well aligned with a consumer experience industry of operating an airline. He has much needed experience in technology and digital transformation that will be key to Transat’s modernization and its ongoing ability to track, anticipate and prepare for customer behaviour trends. This streamlined board will be much more constructive and efficient than the current Board, and this change is part of Financière Outremont’s broader proposal for governance enhancements at Transat. Financière Outremont expects to prepare its own information circular that will be sent to shareholders and filed under the Company’s profile on SEDAR+ in the coming days.

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