MONTREAL, Feb. 10, 2020 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) today 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.
Mr. Bell, a former Group CFO with FTSE-listed energy services firm Centrica plc and Barrie, Ontario native, will join SNC-Lavalin as Executive-Vice-President on February 11, 2020. 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."
Mr. 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). Mr. Véronneau, who assumed his new role on February 3rd, is tasked with rapidly re-aligning the Company's organizational structure and assets to its new strategic direction.
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.
"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. 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," said Ian L. Edwards. "I wish him much success for the future."
About Jeff Bell
Mr. Bell was previously Group Chief Financial Officer at Centrica Plc, a UK FTSE listed energy services and solutions company. He joined Centrica's Direct Energy business in Toronto in 2002 where he held various senior finance positions before moving to Centrica's head office in the UK in 2008. Mr. Bell held the positions of Executive Assistant to the CEO and Head of Group Strategy, and Director of Corporate Finance & Group Financial Controller before being appointed CFO in 2015. Prior to joining Centrica, Mr. Bell, a Chartered Professional Accountant, worked for The Boston Consulting Group and KPMG in Canada. He has a BA in Accounting from the University of Waterloo and an MBA from Harvard Business School.
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
For further information: Media: Daniela Pizzuto, Director, External Communications, 514-393-8000, ext. 54772, [email protected]; Investors: Denis Jasmin, Vice President, Investor Relations, 514-393-8000, ext. 57553, [email protected]