Toronto, ON – November 14, 2016: Aecon Group Inc. (TSX: ARE) announced today that Terrance McKibbon is stepping down as President and Chief Executive Officer of Aecon.
Mr. McKibbon has spent more than 20 years with Aecon, serving as President and Chief Operating Officer before taking over the CEO role in June 2014.
“After a long and highly successful career at Aecon, we wish Teri all the best in his future endeavours,” said John M. Beck, Executive Chairman. “On behalf of the entire Aecon team, and its Board of Directors, I would like to extend our gratitude for Teri’s contributions to the development of the company for the last 20 years.”
To ensure a smooth transition, Mr. Beck, who was CEO until June 2014, resumes his role as CEO, and Brian V. Tobin becomes independent Chairman. They both have agreed to act in these capacities on an interim basis until a new CEO is selected by the Board. A committee of the Board led by Mr. Tobin is being established to recruit a new CEO.
Aecon Group Inc. (TSX: ARE) is a Canadian leader and partner-of-choice in construction and infrastructure development. Aecon provides integrated turnkey services to private and public sector clients in the Infrastructure, Energy and Mining sectors and provides project management, financing and development services through its Concessions segment. Aecon is also pleased to be consistently recognized as one of the Best Employers in Canada. For more information, please visit www.aecon.com and follow us on Twitter at @AeconGroup.
The information in this press release includes certain forward-looking statements. These “forward-looking” statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. In addition to events beyond Aecon’s control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to: the timing of projects, unanticipated costs and expenses, general market and industry conditions and operational and reputational risks, including Large Project Risk and Contractual Factors. Readers are referred to the specific risk factors relating to and affecting Aecon’s business and operations as filed by Aecon pursuant to applicable securities laws. Forward-looking statements may include, without limitation, statements regarding the operations, business, performance, prospects, strategies and outlook for Aecon. Forward-looking statements, may in some cases be identified by words such as “will,” “plans,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should” or the negative of these terms, or similar expressions. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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