Edmonton, Alberta – June 11, 2014: Aecon Group Inc. (TSX: ARE) held its Annual General Meeting today in Edmonton, Alberta. As previously announced, at the Board of Directors’ meeting, Teri McKibbon was appointed as the Company’s President and Chief Executive Officer and John M. Beck assumed the role of Executive Chairman.
“Last year was a year of continued refinement and execution as we focused on the bottom line –we are committed to staying the path while fine tuning the core components of our strategy,” said John M. Beck, Executive Chairman, Aecon Group Inc. “We will continue to focus on reaching our target of 9 per cent adjusted EBITDA margin in 2015.”
At the Annual General Meeting, Aecon’s shareholders elected Teri McKibbon as a new Director to the Board. In addition to his role as Chief Operating Officer since March of 2011, Mr. McKibbon, 50, took on the role of President in June 2013. He has been a member of the Executive Committee of Aecon Group Inc. since 2006. He joined Aecon in 1996, and previously led Aecon’s Infrastructure business.
“Teri is focused on margin improvement while increasing Aecon’s position in our segments of Infrastructure, Energy, Mining and Concessions. His three decades of experience managing construction-related companies including his lengthy time as a leader at Aecon working with John, has been pivotal in defining Aecon’s direction,” said The Hon. Brian V. Tobin, Vice-Chair and Lead Director. “The Board recognizes John’s invaluable leadership in shaping Aecon as Canada’s premier construction and infrastructure development company, and are very pleased that John continues to dedicate himself full-time to Aecon as Executive Chairman.”
“I have greatly benefited from John’s wealth of industry knowledge, and look forward to his continued mentorship and guidance,” said Teri McKibbon, President and Chief Executive Officer. “Moving forward, our positive outlook remains and we expect results to be weighted more to the second half of the year.”
Aecon’s shareholders also elected Executive Chairman John M. Beck, Austin C. Beutel, Michael A. Butt, Joseph A. Carrabba, Anthony P. Franceschini, J.D. Hole, Monica Sloan, and The Honourable Brian V. Tobin to the Board of Directors at the annual meeting. Rolf Kindbom did not stand for re-election after serving as a Director of Aecon for fourteen years.
Additionally shareholders voted in favour of an advisory resolution on the compensation of the company’s named executive officers. The final voting results will be posted on SEDAR and on the Company’s website at aecon.com, by June 13, 2014.
Aecon Group Inc. is a Canadian leader in construction and infrastructure development providing integrated turnkey services to private and public sector clients. Aecon is pleased to be consistently recognized as one of the Best Employers in Canada.