Corporate News Blog – Stantec Announces Gord Johnston as the New CEO; Bob Gomes to Step Down at the end of the Year

LONDON, UK / ACCESSWIRE / June 23, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for international professional services company in design and consulting, Stantec Inc. (NYSE: STN), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=STN. The Company announced Gord Johnston as its President and Chief Executive Officer on June 21, 2017, following the retirement of Bob Gomes (current CEO and President of Stantec) on December 31, 2017. Johnston currently holds the post of the Executive Vice President of Stantec’s Infrastructure business operating unit and will relocate to Edmonton, Alberta, post the shuffle. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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The Announcement

According to the Company, Bob Gomes has driven Stantec to achieve sustainable growth by executing key strategies outlined in the Company’s Strategic Plan. He led the expansion of the Company into multiple global markets, which would eventually act as a foundation for Johnston’s focused leadership style, industry expertise and the understanding of the market to deliver exceptional value to the shareholders of the Company.

Johnston’s vision is focused primarily on helping the Company achieve long-term strategic goals. He has been working with Stantec for the past 20 years and holds than more than 30 years of industry leadership experience. Johnston will resume operations at Stantec as the President and CEO from January 01, 2018, once Gomes steps down from his current position on December 31, 2017.

In the past nine years, he has successfully played an active role in guiding the company’s strategic plan, while for the past three years the Company’s Board of Directors has been working on a succession plan where Johnston’s appointment as the CEO is a significant milestone under the plan.

Gord Johnston: Historical Background

Johnston headed the Permanent Canal Closures and Pumps (PCCP) Project for the city of New Orleans when it faced the risk of a Category 5 hurricane. This idea by Johnston would play a central role in a multi-billion-dollar hurricane risk reduction system. In 1990, Johnston joined the firm’s Edmonton-based Water practice and after that, has served in numerous leadership roles.

Johnston also served in Stantec’s Water group in Western Canada as the regional business leader, where later, in 2010, he started working as a business leader for Stantec’s Water business line. Johnston has also served on Stantec’s Disclosure Committee, the Integrity Management Team, and the Executive Health, Safety, Security, and Environment Committee. He has also been on the Board of Directors for the Association of Consulting Engineering Companies (ACEC).

Stantec’s Growth Prospects

Stantec currently operates through its 22,000 employees, working across 400 locations in 6 continents. Additionally, the Company has witnessed growth in gross revenue of 229% from $1.5 billion in Q1 FY09 to $4.8 billion in Q1 FY17. Stantec focuses on strengthening its global footprint while maintaining its position as a top service provider dedicated to delivering world-class expertise to its clients in the local communities around the world.

In Alberta, Coal Lake is the main source of water which got polluted because of algae. The up gradation project to provide clean water had the estimated price close to $25 million. Stantec’s design-build-operate team proposed a solution that met treatment and regulatory goals for less than half the cost. It included treatment process enhancements and extensive reuse of existing infrastructure.

Prior to December 31, 2017, both Gomes and Johnston will work together to ensure a seamless transition and efficient discharge of operational responsibilities. The Executive Vice President and Chief Financial Officer, Dan Lefaivre; Executive Vice President and Chief Operating Officer, Scott Murray; and Executive Vice President and Chief Business Officer, Tino DiManno will resume with their appointments in the Company.

Last Close Stock Review

On Thursday, June 22, 2017, the stock closed the trading session at $24.70, climbing 2.07% from its previous closing price of $24.20. A total volume of 8.32 thousand shares have exchanged hands. Stantec’s stock price advanced 7.86% in the last one month. The stock is trading at a PE ratio of 99.60 and has a dividend yield of 1.48%. The stock currently has a market cap of $2.82 billion.

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