Churchill Corporation appoints David Lemay as President and Acting CEO
CALGARY, July 31, 2012 /CNW/ - The Churchill Corporation (TSX: CUQ), (TSX: CUQ.DB) ("Churchill" or the "Corporation") today announced that it has appointed David LeMay to the position of President and Acting Chief Executive Officer. The appointment is effective immediately. The Board is working toward confirming a Chief Executive Officer for the Company.
Mr. LeMay was formerly president of Churchill's subsidiary Churchill Services Group. He replaces James Houck, who is leaving to pursue other interests. The Board expresses its appreciation for Mr. Houck's contributions to Churchill and wishes him well in his future endeavours.
"On behalf of the Board of Directors, I would like to welcome Mr. LeMay to his new position," said Al Bellstedt, Churchill's Chair. "He has deep knowledge of our industry and has produced impressive results since he joined our subsidiary Laird Electric in 2006. The Board is extremely confident that Mr. LeMay has the background, judgment and leadership skills to deliver superior performance in his new role."
Added Mr. LeMay, "I believe Churchill has a strong and exciting future ahead, and I look forward to realizing that future with our senior management team and our talented and dedicated workforce. My objective will be to focus on operations in order to increase profitability, create value for our shareholders and strengthen our position as a leader in construction and industrial services in Western Canada."
Mr. LeMay has 25 years of experience in the construction industry, including seven years with subsidiaries of Churchill. Earlier this year he earned his Master of Business Administration from Queen's University while also leading Churchill Services Group.
Churchill also announced that Ron Martineau will succeed Mr. LeMay on an interim basis as President of Churchill Services Group. Mr. Martineau, who retired earlier this year, was formerly President and Chief Operating Officer of Churchill's subsidiary Insulation Holdings Inc.
About The Churchill Corporation
The Churchill Corporation provides building construction, commercial and industrial electrical contracting, earthmoving and industrial insulation services to an array of public and private sector clients. Churchill operates office locations in British Columbia, Alberta, Saskatchewan, Manitoba and northern Ontario. Churchill common shares and convertible debentures are listed on the Toronto Stock Exchange under the symbols "CUQ" and "CUQ.DB", respectively. www.churchillcorporation.com
Forward Looking Information
This press release contains statements that may constitute forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, without limitation, statements pertaining to our operations, financial performance and business prospects. Forward-looking information is based on management's reasonable assumptions and estimates in respect of its experience and perception of trends, current economic conditions as well as other material factors that it considers to be relevant at the time of making such statements. Such statements should not be interpreted as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Forward-looking information is subject to a number of factors that may cause actual results to differ materially from those results implied by the expectations suggested by such information. Those factors include, without limitation, the risks and uncertainties described in the Corporation's Annual Information Form filed with the securities regulatory authorities in Canada under the Corporation's profile at www.sedar.com. Readers are encouraged to consider the foregoing risks and uncertainties and other factors carefully when evaluating the forward-looking information and are cautioned not to place undue reliance upon such information when making investment decisions. The forward-looking information in this press release is current to the date hereof, and is subject to change following such date. While the Corporation may elect to do so, unless required by applicable law, it undertakes no obligation to update this information to reflect new information or circumstances at any particular time.
SOURCE: The Churchill CorporationFor further information:
Evan Johnston, L.L.B, CFA
Vice President, General Counsel & Corporate Secretary
The Churchill Corporation