SNC-Lavalin CEO Robert Card to Step Down
September 14 2015 - 11:00AM
Dow Jones News
Canadian engineering and construction giant SNC-Lavalin Group
Inc. said Monday it has named Chief Operating Officer Neil Bruce to
succeed Robert Card as president and chief executive next
month.
Montreal-based SNC-Lavalin said Mr. Card, who has been CEO since
late 2012, will remain as an adviser to the company after he steps
down on Oct. 5.
"Bob's tenure left a strong legacy during a critical time for
the company," SNC-Lavalin Chairman Lawrence Stevenson said in a
statement.
Mr. Card took the helm of SNC-Lavalin in late 2012 after
allegations of improper payments by top executives led to
accounting charges and the departure of its former CEO earlier that
year. He led the company's sale of its AltaLink power transmission
unit to Berkshire Hathaway Energy in 2014 and its purchase that
same year of global engineering-services firm Kentz Corp.
Mr. Bruce joined the company in January 2013 and has been chief
operating officer since April, SNC-Lavalin said.
"I leave the company in the very capable hands of Neil," Mr.
Card said.
SNC-Lavalin, which operates in oil and gas, mining,
infrastructure and power, said the chief operating officer position
won't be filled. The heads of its four business units will still
report to Mr. Bruce, the company said.
Write to Judy McKinnon at judy.mckinnon@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 14, 2015 10:45 ET (14:45 GMT)
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