SNC-Lavalin CEO Robert Card to Step Down

Canadian engineering and construction giant SNC-Lavalin Group Inc. said Monday it has named Chief Operating Officer Neil Bruce to succeed Robert Card as president and chief executive next month.

Montreal-based SNC-Lavalin said Mr. Card, who has been CEO since late 2012, will remain as an adviser to the company after he steps down on Oct. 5.

"Bob's tenure left a strong legacy during a critical time for the company," SNC-Lavalin Chairman Lawrence Stevenson said in a statement.

Mr. Card took the helm of SNC-Lavalin in late 2012 after allegations of improper payments by top executives led to accounting charges and the departure of its former CEO earlier that year. He led the company's sale of its AltaLink power transmission unit to Berkshire Hathaway Energy in 2014 and its purchase that same year of global engineering-services firm Kentz Corp.

Mr. Bruce joined the company in January 2013 and has been chief operating officer since April, SNC-Lavalin said.

"I leave the company in the very capable hands of Neil," Mr. Card said.

SNC-Lavalin, which operates in oil and gas, mining, infrastructure and power, said the chief operating officer position won't be filled. The heads of its four business units will still report to Mr. Bruce, the company said.

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(END) Dow Jones Newswires

September 14, 2015 10:45 ET (14:45 GMT)

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