Canadian Manufacturing

WSP shakes up top management as it reports its 2015 earnings

by The Canadian Press   

Canadian Manufacturing
Financing Human Resources Operations Infrastructure Transportation

Construction firm outlines CEO succession plan, reports $62.2 million profit

Currently the company's CFO, Alexandre L'Heureux will take over as president and CEO of WSP. PHOTO: WSP

Currently the company’s CFO, Alexandre L’Heureux will take over as president and CEO of WSP. PHOTO: WSP

MONTREAL—WSP Global Inc. says it will be getting a new CEO as part of a management transition that follows more than a year of rapid growth through acquisitions.

The Montreal-based engineering and construction company says its current CEO, Pierre Shoiry, will step aside to become vice-chairman of WSP’s board of directors.

He will be succeeded by the company’s current chief financial officer, Alexandre L’Heureux, once a new CFO is hired from outside.

“I am both humbled and honoured to have the opportunity to lead WSP in the next phase of its evolution,” L’Heureux said in a statement. “I firmly believe in the strength of our organization and in the future of our industry. We have a clear strategy and a successful business model, and I intend to remain true to our entrepreneurial philosophy.”


The transition was announced as WSP issued its latest financial report.

It had $188.8 million of net income for the 12 months ended Dec. 31, including $14.7 million or 15 cents per share in the fourth quarter.

In 2014, WSP had a full-year net profit of $62.2 million including a fourth-quarter loss of $7.9 million or 10 cents per share.

Revenue increased to $6.06 billion last year, including $1.25 billion in the fourth quarter, up from $2.3 billion in 2014 including $858.8 million in that year’s fourth quarter.

Most of the increase was due to acquisitions.


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