SNC-Lavalin’s new CFO part of ongoing senior leadership shakeup
February 10, 2020
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SNC-Lavalin announced the appointment of Jeff Bell as Chief Financial Officer (CFO), effective April 14, as part of an ongoing renewal process at the senior leadership level focused on supporting the execution of the company’s new strategic direction.
Bell, a former Group CFO with FTSE-listed energy services firm Centrica plc and Barrie, Ont. native, will join SNC-Lavalin as Executive-Vice-President on February 11. He will work closely with current company CFO, Sylvain Girard, to ensure a smooth transition process before assuming his new role as CFO in April.
“I am very pleased to welcome Jeff Bell as CFO at a pivotal time for SNC-Lavalin,” said Ian L. Edwards, president and CEO, SNC-Lavalin. “Jeff brings valuable leadership experience as the former Group CFO of a global energy services and solutions firm. SNC-Lavalin is focused on growing its high-potential Engineering Services business in core geographies around the world, an objective to which Jeff is uniquely suited. As a Canadian, he understands the Company’s deep roots as a Montreal-based global engineering firm, and the importance of the Canadian market to its success.”
Bell’s appointment as CFO follows a number of other recent appointments at the senior leadership level, including that of Charlene A. Ripley as Executive Vice-President and General Counsel, and Louis Véronneau, to the newly created role of Chief Transformation Officer (CTO).
Véronneau, who assumed his new role on February 3, is tasked with rapidly re-aligning the company’s organizational structure and assets to its new strategic direction.
“I want to take this opportunity to thank Sylvain Girard for his leadership as CFO during the past four years and his extraordinary commitment to SNC-Lavalin worldwide,” said Edwards. “Sylvain helped shepherd the company through a challenging period and has been instrumental in supporting me with the implementation of SNC-Lavalin’s new strategic direction. I wish him much success for the future.”
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 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, which is responsible for running off the remaining LSTK backlog,
ii) – exiting from the LSTK contracting model, and
iii) – exploring all options with regards to the resources segment, including possible divestitures or transition to a services-based business.