CALGARY, June 2, 2015 /CNW/ - Stuart Olson Inc. (TSX: SOX, SOX.DB, SOX.DB.A) ("Stuart Olson" or the "Company") today announced changes to its senior management team, including the promotion of two individuals from within the Company.
Arthur Atkinson has been appointed as Chief Operating Officer of the Buildings Group, with overall responsibility for leadership of the group. Mr. Atkinson, who has worked at Stuart Olson for over 10 years, was most recently Executive Vice President of the Buildings Group and prior to that served as Vice President Southern Alberta.
"Arthur Atkinson is exceptionally qualified to lead the Buildings Group and achieve its strategic and operational goals," said David LeMay, Stuart Olson's President and CEO. "He has been instrumental in helping the group build a strong and secure backlog, while steadily improving operational performance."
Mr. Atkinson takes over from David LeMay, who has led the group on an interim basis for the past 18 months. Mr. LeMay will now assume the additional responsibility of leading the Industrial Group on an interim basis, replacing group President Allan Tarasuk, who is leaving the Company.
Stuart Olson also today announced the promotion of Joette Decore to Executive Vice President, Corporate Strategy and Development. Ms. Decore has held various executive positions at Stuart Olson, including Vice President, Human Resources; Vice President, Corporate Development; and most recently, Vice President, Strategy and Development.
"With executive responsibility for human resources, corporate communications, strategy and corporate development, Joette Decore plays a major role on our senior executive team and has been instrumental in guiding the strategy of the overall organization. This promotion recognizes the significant contribution she is making to the Company," said Mr. LeMay.
The changes announced today, including the reorganization of the Buildings Group and Industrial Group under Chief Operating Officers rather than Presidents, are consistent with Stuart Olson's strategy of operating as an integrated full-service construction company.
"We are creating a leaner, more efficient corporate structure that accelerates decision making, enables all parts of the organization to work together more closely and cooperatively, and reflects the responsibility of the Stuart Olson President for delivering operational performance" said Mr. LeMay. "The promotions announced today also reflect our strong focus on internal succession planning. We are committed to developing and growing our people from within our organization."
About Stuart Olson Inc.
Stuart Olson Inc. provides building construction, commercial and industrial electrical contracting, and industrial insulation services to an array of public and private sector clients. The Company operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Stuart Olson common shares and Stuart Olson's 2010 and 2014 convertible debentures are listed on the Toronto Stock Exchange under the symbols "SOX", "SOX.DB" and "SOX.DB.A", respectively. www.stuartolson.com
Forward Looking Information
This press release contains certain statements that may constitute forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, without limitation, statements relating to the efficiency of Stuart Olson's organizational structure. Often, but not always, forward-looking information can be identified by the use of such words as "may", "will", "expect", "believe", "plan", "intend", "estimate", "outlook", "forecast", "should", "anticipate" and other similar terminology, including statements concerning possible or assumed future results. Forward-looking information is based on management's reasonable assumptions, analysis and estimates in respect of its experience and perception of trends, current economic conditions, government policies and expected developments, as well as other material factors that it considers to be relevant at the time of making such statements.
The forward-looking information in this press release is included solely for the purpose of assisting investors in understanding Stuart Olson's financial position and the results of its operations as at the date hereof. By its nature, forward-looking information involves known and unknown risks and uncertainties, which give rise to the possibility that management's assumptions, analysis and estimates will be incorrect and that Stuart Olson's anticipated results will not be achieved. Although Stuart Olson believes that the statements with respect to forward-looking information are reasonable and current, 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 necessarily 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 Stuart Olson's Annual Information Form filed with the securities regulatory authorities in Canada under Stuart Olson's profile at www.sedar.com. Readers are encouraged to consider the foregoing risks 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 Stuart Olson 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 Stuart Olson Inc.
For further information: David LeMay, President and Chief Executive Officer, Stuart Olson Inc., (403) 685-7777, Email: [email protected]; Daryl Sands, Executive Vice President and Chief Financial Officer, Stuart Olson Inc., (403) 685-7777, Email: [email protected]