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SNC-Lavalin strengthens leadership team to support new strategic direction

Appoints Chief Transformation Officer, President of Infrastructure Projects

MONTREAL , Jan. 22, 2020 /CNW Telbec/ - SNC-Lavalin (SNC.TO) is pleased to announce a series of enhancements to its senior leadership team to better align with and support the execution of the Company's new strategic direction and its focus on driving cash flow and sustainable growth.

The Company has made the following appointments, effective February 3 rd:

  • Louis G. Véronneau, to the newly created role of Chief Transformation Officer (CTO), charged with rapidly simplifying the Company's structure and processes, while supporting the new strategic direction with a focus on Information Technology (IT) and divestitures.
  • Jonathan Wilkinson , to the newly created role of President of Infrastructure Projects, charged with overseeing the rapid and successful run-off of the Company's lump-sum turnkey (LSTK) backlog.
  • Dale Clarke , on an interim basis, to the newly created role of Executive Vice-President Infrastructure Services, responsible for growing the high-performing services business in North America .

In July 2019 , SNC-Lavalin announced a new strategic direction focused on de-risking the business and prioritizing the Company's high-performing and growth areas, including Engineering, Design & Project Management (EDPM), Nuclear, and Infrastructure Services. The new strategy has three principal components:  i - reorganizing the Company into two separate lines of business - SNCL Engineering Services, and SNCL Projects, ii - exiting from the LSTK contracting model and running off the remaining backlog, and iii - exploring all options with regards to the Resources segment, including possible divestitures.

"Each of these appointments further reinforces our focus on the execution of our new strategic direction," said Ian L. Edwards , President and CEO of SNC-Lavalin. "We are determined to achieve what we have set out to do and put the company on a sustainable path to consistent earnings and cash flow. To do that, we need dynamic senior leaders singularly focused on realizing these objectives. All three of these individuals bring deep expertise and a strong track record in effectively leading transformative projects, and they will enhance our ability to deliver on our strategy."    

Louis G. Véronneau brings extensive cross-functional experience to the newly created role of Chief Transformation Officer (CTO). He was a former investment banker, securities lawyer, general counsel and Vice-President of strategy and corporate development at several large Canadian corporations, including Abitibi Consolidated and Bombardier Inc. Mr. Véronneau will be responsible for driving business efficiency at a whole-of-company level. He will focus on driving cost savings and improving business organization and processes by simplifying the corporate structure and reducing the Company's geographic footprint, as well as identifying and divesting under-performing parts of the business. He will report to Ian L. Edwards , President and CEO, and join the Executive Committee.

"In order to effectively execute on our new strategic direction, we need to take a deep, holistic view of the business that allows us to connect the dots between our processes, cost structure and business model, and our ability to generate cash flow and maintain a strong balance sheet," said Mr. Edwards. "We need to continue to drive cost savings and align our capabilities, such as our extensive technology platforms, with the new strategic direction, and Louis will be instrumental in leading that transformation."  

Jonathan Wilkinson , currently President of infrastructure, will apply his extensive expertise in overseeing large, transformational projects to the newly created role of President of Infrastructure Projects and will continue to be a member of the Executive Committee. In his new role, he will bring a dedicated focus to the delivery of the outstanding LSTK infrastructure projects, and will work closely with Nigel White , EVP Project Oversight. 

Dale Clarke , currently EVP Strategy and Growth Infrastructure, becomes Interim Executive Vice-President, Infrastructure Services, where he will be responsible for growing our high-performing infrastructure services business in North America , including its Infrastructure Operation and Maintenance, Power, Grid and Industrial Solutions, and Construction and Project Management businesses.

"This structure brings an all-important focus to delivery on our strategy, both in terms of running off the remaining LSTK backlog in a timely and disciplined manner and continuing to build out our strong infrastructure services business in jurisdictions that we have identified as core growth areas," said Mr. Edwards.

About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world. SNC-Lavalin connects people, technology and data to help shape and deliver world-leading concepts and projects, while offering comprehensive innovative solutions across the asset lifecycle. Our expertise is wide-ranging — consulting & advisory, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and sustaining capital – and delivered to clients in four strategic sectors: EDPM (engineering, design and project management), Infrastructure, Nuclear and Resources, supported by Capital. People. Drive. Results. www.snclavalin.com

SOURCE SNC-Lavalin


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