North American Construction Group Ltd. Announces Leadership Succession
December 16 2020 - 5:05PM
North American Construction Group Ltd. (“NACG”) (TSX: NOA/NYSE:
NOA) today announced the appointment of Joseph C. “Joe” Lambert to
the position of President and Chief Executive Officer, effective
January 1, 2021. Mr. Lambert has also been appointed to the Board
as of that date.
As of January 1, 2021, Martin Ferron will assume
the role of Executive Chairman and resign as Chief Executive
Officer. This will facilitate transitional oversight and support to
the executive team throughout 2021. Beyond that, Mr. Ferron,
subject to the continued annual confidence of shareholders and
fellow Directors, plans to remain as non-executive Chairman of the
Board of Directors and as a major shareholder.
Mr. Ferron commented: “I am very proud of the
many achievements NACG has attained during my eight-plus years
tenure as CEO. None more so than the development of Joe Lambert
into the right person to succeed me. From the outset, he impressed
me as an operating executive of the highest caliber and has since
applied himself with complete dedication to become the CEO this
company needs to take it through and beyond its next phase.”
Mr. Ferron added: “Joe has extensive experience
in mining support services and construction, both in North America
and Australia, and so is extremely well suited to be the leader of
our important diversification strategy, building our presence in
other geographies and natural resource industries while we continue
to fully satisfy our customers in the Canadian oil sands.”
Mr. Lambert remarked: “I am pleased to be given
this opportunity and look forward to leading this outstanding
organization. Working with the great team of people here that I
know well, I can assure all stakeholders we will continue the
journey of safely achieving our strategic objectives. Despite the
COVID-19 pandemic and enduring a very difficult Q2 this year, our
business is recovering well and I am eager to continue this current
positive momentum. In the short-term, I am specifically excited to
publicly release our inaugural Sustainability Report within the
next couple of months.”
About Joseph C. Lambert
Joseph C. Lambert became President on October
31, 2017, while also retaining his role as Chief Operating Officer,
which position he had held since June 1, 2013. Mr. Lambert
originally joined NACG as General Manager of Mining in April 2008,
after an extensive career in the mining industry. Mr. Lambert was
promoted to Vice President, Oil Sands Operations in September of
2010 and accepted the position of Vice President, Operations
Support in January 2012.
About the Company
North American Construction Group Ltd.
(www.nacg.ca) is one of Canada’s largest providers of heavy civil
construction and mining services. For more than 65 years, NACG has
provided services to large oil, natural gas and resource
companies.
For further information, please contact:
Jason Veenstra, CPA, CAChief Financial OfficerNorth American
Construction Group Ltd.Phone: (780) 948-2009Email:
jveenstra@nacg.ca
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