SNC-Lavalin says CEO Neil Bruce is retiring | CBC News
Its reputation has taken a beating over fraud and corruption
charges related to its work in Libya, and the company has found itself
ensnared in political controversies, both at home and abroad.
charges related to its work in Libya, and the company has found itself
ensnared in political controversies, both at home and abroad.
The
firm slashed its 2018 guidance twice in three weeks, more than halving
its profit forecast and halting all bidding on future mining projects
amid an ongoing diplomatic feud between Canada and Saudi Arabia — a key
source of oil and gas revenue — and delays on SNC’s project with
Codelco, Chile’s state-owned copper mining company, which has since
cancelled the contract.
Last month, the company announced plans to
wind down its operations in 15 countries and reported a $17-million
loss in its latest quarter.