MONTREAL, Oct. 31, 2019 /CNW Telbec/ - SNC-Lavalin Group
Inc., (TSX: SNC) is pleased to announce that its Board of Directors
has appointed Ian L. Edwards as
President and Chief Executive Officer of the Company, effective
immediately.
Mr. Edwards was previously appointed as SNC-Lavalin's Interim
President and Chief Executive Officer on June 11, 2019. Since that time, Mr. Edwards has
actively consulted with investors representing the majority of
SNC-Lavalin's shareholder base, and undertaken a comprehensive
strategic review of the business, which resulted in the
July 22, 2019 decision to exit
lump-sum turnkey contracting. The Company was reorganized into two
separate lines of business, SNCL Engineering Services and SNCL
Projects.
"Over the course of recent months, Mr. Edwards has acted swiftly
and decisively to develop a forward-looking approach and new
strategic direction for the Company that draws on his decades of
experience delivering complex engineering projects to clients
around the world, input from senior leaders, and shareholder
considerations," said Kevin Lynch,
Chairman of SNC-Lavalin's Board of Directors. "SNC-Lavalin now has
a clear path forward that is grounded in delivering results, and
strategically focused on sustainable growth."
Mr. Lynch added, "We believe Ian is the right leader, at the
right time, to take the Company forward, and on behalf of the Board
of Directors of SNC-Lavalin, we are very pleased to appoint him as
President and Chief Executive Officer of the Company."
Mr. Edwards commented, "I am truly honoured to have this
opportunity to lead SNC-Lavalin, one of only a handful of global
engineering firms, and one of Canada's great companies. I would like to
thank our shareholders for taking the time to meet with me in
recent months and provide thoughtful feedback. Our new strategy is
designed to optimize what it is SNC-Lavalin does best and generate
consistent earnings and cash flow. I also want to acknowledge the
hard work and dedication of our incredibly talented people across
the globe, without whom we would not be able to do the kind of
world-class work we do every day. Our job now is to remain
relentlessly focused on execution. We have a very exciting future
ahead of us, and I look forward to working with all our
stakeholders to realize our shared objectives."
About SNC-Lavalin
Founded in 1911,
SNC-Lavalin is a global fully integrated professional services and
project management company and a major player in the ownership of
infrastructure. From offices around the world, SNC-Lavalin's
employees think beyond engineering. Our teams provide comprehensive
end-to-end project solutions – including capital investment,
consulting, design, engineering, construction management,
sustaining capital and operations and maintenance – to clients
across the EDPM (engineering, design and project management),
Infrastructure, Nuclear, and Resources businesses.
www.snclavalin.com
SOURCE SNC-Lavalin