Jean-Marc Eustache is retiring as chair and chief executive of Transat AT Inc., the travel company which he helped start and build.

Transat says Eustache was one of the principal architects in the founding of Transat in 1987.

Eustache's retirement follows a tumultuous year due to the pandemic that also saw a deal for Transat to be bought by Air Canada fall apart.

The company says Annick Guerard will become president and chief executive starting on Thursday. Guerard has been Transat's chief operating officer since November 2017.

Eustache is also stepping down from the company's board of directors.

Raymond Bachand, Transat's lead director, will become chair and Guerard will also join the board.