SNC Lavalin CEO
March 26, 2012 by staff
SNC Lavalin CEO, SNC-Lavalin Group Inc. SNC-T has announced the departure of chief executive officer Pierre Duhaime amid allegations he allowed a series of unauthorized payments totalling $56-million (U.S.) to be made by a former vice president.
SNC chairman Gwyn Morgan also said during a call withanlysts that the company is turning over information to the RCMP related to the payments and the company’s work in Libya.
The company’s review outlined a series of findings from an internal review headed by the company’s board of directors.
The review concludes that the company cannot properly account for $56-million in payments, some of which went to “agents” working on various projects. The payments were directed by former executive vice president Riadh Ben Aissa, who headed the company’s operations in Libya and elsewhere. SNC dismissed Mr. Ben Aissa in February although he has insisted he resigned.
The company said, however, it did not believe the payments in question were related to its Libyan operations.
“The company intends to separately report these matters to the appropriate authorities and to co-operate fully with such authorities with respect to these or any other matters,” it said.
“In the absence of direct and conclusive evidence, the use and purpose of the payments or nature of the services rendered or actions taken under the agreements cannot be determined with certainty,” SNC added in a statement.
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