MONTREAL – SNC-Lavalin (TSX:SNC) is continuing to make changes at the top of its organization, announcing that one-third of its directors including chairman Gwyn Morgan won’t stand for re-election at its annual meeting next month.
During Morgan’s tenure as chairman, the company called in police after an internal investigation uncovered questionable payments that led to the resignation of former chief executive Pierre Duhaime.
The new SNC chairman is expected to be Ian Bourne, who has been on the board since 2009 and was its interim CEO briefly after Duhaime left.
Three other directors in addition to Morgan will depart the board and be replaced at the annual shareholder’s meeting on May 2.
Including three new directors who will be elected at the meeting and three others directors who joined last year, half of the new 12-member board will have arrived since the controversy erupted.
Comments