Aecon Appoints Global Construction Leader Jean-Louis Servranckx as President and Chief Executive Officer

TORONTO, July 23, 2018 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that its Board of Directors has appointed Jean-Louis Servranckx (pronounced Servranx) as the Company's President and Chief Executive Officer, effective September 4, 2018.  Upon Mr. Servranckx' assumption of the CEO role, John M. Beck will assume his previous role as Executive Chair of the Board and Brian V. Tobin will resume the Lead Director role.

"The Board is confident that Jean-Louis is the right leader to guide the company in its growth aspirations in a construction market rich with opportunities well suited to Aecon's expertise and we are fortunate to have him join the team," said Brian V. Tobin.  "With the continuity of founder John Beck's steady leadership, the global, large project execution expertise of Jean-Louis Servranckx, and Aecon's best-in-class capabilities in Canada and beyond, we expect Aecon to deliver continued growth in shareholder value." 

With over 30 years of experience in the construction industry, across the infrastructure and industrial sectors, Jean-Louis Servranckx is a seasoned leader with expertise in large-scale and complex international projects. Beginning his career at Spie Batignolles, his roles included Regional Manager for East Africa at Sogea-Satom, a subsidiary of Vinci before becoming International Development and Special Projects Manager. Mr. Servranckx continued his career at Vinci Construction, where he held progressively senior roles, including Operational Manager for the Mediterranean and Middle East regions, then Deputy CEO of the Major Projects Division.  In 2011, he became President and CEO of Eiffage Civil Works Division, now known as Eiffage Infrastructures Branch, a business with over $6 billion in revenue and operations throughout Europe, Africa and in Canada. Mr. Servranckx graduated from École des Mines de Paris, holds an MBA from INSEAD and is fluent in English, French and Spanish.   

Current CEO and founder John M. Beck added: "My commitment to employees and shareholders nearly two years ago was that I would remain at the helm for as long as needed until we found the right leader for Aecon. Jean-Louis, with his proven track record of successfully delivering on large-scale, complex projects, is that leader. His global experience is well suited to Aecon's many partnerships with international companies and track record of successful projects in countries such as Israel, Ecuador and now Bermuda. Jean-Louis has the deep grasp of the construction business that can only come from a lifetime spent on construction sites and in the executive ranks of large construction companies and he brings a clear strategic vision for Aecon's future growth."

"It is an honour to be chosen as President and Chief Executive Officer of Aecon, an iconic Canadian company with a sterling reputation worldwide," Mr. Servranckx said. "Having spent my entire career as a builder, I feel a natural fit with Aecon and its long and proud history. I look forward to working with John Beck, the Board of Directors, and Aecon's team to drive success through top-line growth, margin improvement, and further building on Aecon's valued partnerships and client relationships."

ABOUT AECON

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 and Industrial sectors, and provides project management, financing and development services through its Concessions segment. For more information, please visit aecon.com and follow us on Twitter, LinkedIn, and Instagram at @AeconGroup.

STATEMENT ON FORWARD LOOKING INFORMATION

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.  Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, 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. 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.  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.

SOURCE Aecon Group Inc.