Canadian engineering and construction group SNC-Lavalin has named Ian L. Edwards as its Interim President and CEO, effective June 11, 2019.
He will join the board of directors, succeeding Neil Bruce. Bruce is retiring as President and CEO, and from the board, to return to his family in the UK. He will remain as an advisor to the board until the end of the year, the company said on Tuesday.
As Chief Operating Officer (COO) since January 2019, Ian L. Edwards has taken the lead in executing the initiative to simplify, focus, and grow the business. According to the company, he has already implemented numerous measures to improve the operational performance of the company.
The board of directors has asked Edwards to undertake a review of the strategic direction of the company on an expedited basis and to develop a plan for sustainable success, that de-risks and simplifies its business model and generates consistent earnings and cash flow.
“The board appreciates Ian taking on this role at this important time for SNC-Lavalin,” said Kevin Lynch, Chairman of the Board of Directors.
“His track record since joining SNC-Lavalin has been impressive. We have great confidence that he will drive a new strategic focus and look forward to seeing early results, delivering solid positive cash flow, greater consistency in earnings, and competitive shareholder value.”
“We very much benefited from Neil’s leadership over the past four years. His commitment to the company, developing a world-class ethics and compliance regime, his leading role in the signature acquisition of Atkins, renewing the management team and delivering high levels of backlog have all been very important to SNC-Lavalin. We wish him well and the best in his retirement,” said Lynch.
Edwards has over 30 years of global experience in delivering complex infrastructure and resources projects across North America, Europe, the Middle East, and Asia Pacific. He joined SNC-Lavalin in 2014 after six years in senior roles with the Leighton Group where as Managing Director, Leighton Asia, India and Offshore.
“I am looking forward to developing a new strategy that will bring sustainable growth with consistent earnings, cash flow generation and will create long-term shareholder value,” said Ian L. Edwards.
Neil Bruce commented: “In the past five years we have achieved much at SNC-Lavalin and I am leaving behind a business that is larger, more diverse, more international than the one I joined, as well as one that has a deeply embedded world-class approach to ethics. I am delighted that Ian has agreed to take the company forward.”
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