The Globe and Mail reports in its Wednesday edition that Quebecor chief executive officer Pierre Karl Péladeau lost his bid to take control of the board of Transat AT at the airline's annual meeting Tuesday. The Globe's Eric Atkins writes that Mr. Péladeau, who controls 9.5 per cent of Transat through a holding company, nominated three directors to the board, including himself, and proposed cutting the number of directors to six. Mr. Péladeau is unhappy with the company's operational and financial performance. However, Transat's ballot results showed shareholders rejected Mr. Péladeau's nominees and his plan for a smaller-sized board. Shareholders approved the board's eight nominees, including Transat CEO Annick Guérard. The board had the support of shareholders Fonds de solidarité and the Caisse pension fund, which together own 16 per cent of Transat's shares. The company's slate was also supported by proxy advisers ISS and Glass Lewis. Transat operates tours to resort destinations in the Caribbean and Europe, and has a fleet of 43 Airbus planes. Mr. Péladeau was also unhappy with Transat's move last year to renegotiate its $762-million bailout debt owed to taxpayers in a deal that gave Ottawa 20-per-cent ownership.