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UPDATE 1-Canadian tour operator Transat names Annick Guérard as CEO

(Adds details, background)

May 26 (Reuters) - Transat AT on Wednesday named Annick Guérard as the Canadian tour operator’s chief executive officer, replacing Jean-Marc Eustache who will retire.

Guérard, who takes over effective May 27, has been the company’s chief operating officer since November 2017.

The company last month said it would borrow up to C$700 million ($569.71 million) from the Canadian government and use a portion of the funds to reimburse customers whose travel plans had to be canceled.

Transat was already struggling due to the COVID-19 pandemic when Air Canada dropped its merger plans with the company in April, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat.

Guérard will join the company’s board and M. Bachand will succeed Eustache as chairman, the company said. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber)

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