DRUMMONDVILLE, QC, July 4, 2014 /CNW Telbec/ - CVTech Group Inc. ("CVTech" or the "Corporation") (TSX : CVT) announces today that Mr. André Laramée officially left his position as President and Chief Executive Officer of the Corporation and will not be standing for re-election as Director at the next annual shareholder meeting to be held on July 23, 2014. Over the next year, Mr. Laramée will continue to work for the Corporation as Principal Senior Advisor. The Board of Directors wishes to thank Mr. Laramée for his significant contribution to the Corporation during his tenure as President and Chief Executive Officer.
The Corporation is actively working on selecting a new President and Chief Executive Officer. The Corporation is confident that the selection process should be completed soon. In the meantime, Mr. Jacques Joly, Chairman of the Board of Directors, supported by Mr. Mario Trahan, Chief Financial Officer, will assume the interim and maintain contact with investors. The management team in place, namely Mario Trahan, Chief Financial Officer, Stephane Rainville, Vice President Human Resources, Stephen M. Zemaitatis Jr., Executive Vice President, U.S. Operations, Bruno Testaert, Vice President and General Manager, Thirau Ltée and J.J.L. Déboisement Inc. and Emilie Duguay, General Counsel and Corporate Secretary, will be responsible for proper operation of the Corporation and will continue to pursue its strategic objectives and to increase shareholder value.
OVERVIEW OF THE CORPORATION
CVTech is a company operating in the energy sector. The Corporation is a leading provider of construction and maintenance services to the public utility and heavy industrial markets mainly in Quebec, Ontario and the eastern United States. Through its subsidiaries, the Corporation provides maintenance and construction services for electricity transmission and distribution networks, substations and electrical power houses, as well as the control of vegetation on rights-of-way for electrical lines.
This document may contain forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.
SOURCE: CVTECH GROUP INC.
For further information:
Jacques Joly, CPA, CA, ASC
Chairman of the Board of Directors
and Interim President and CEO
Mario Trahan, CPA, CMA
Chief Financial Officer
Martin Goulet, CFA