SNC-Lavalin appoints new chairman to oversee shift toward engineering
SNC-Lavalin Group Inc. says it has appointed Magna International Inc. chairman William Young effective Sept. 10
MONTREAL — SNC-Lavalin Group Inc. says it has appointed Magna International Inc. chairman William Young effective Sept. 10 to head its board and oversee the company’s turn away from massive construction and resources projects toward a slimmer profile in engineering services.
Young replaces Kevin Lynch, who announced his pending departure as SNC chairman in May following more than two years in the role.
Young, who has helmed Magna’s board since 2012, currently serves on the board of Intact Financial, a Toronto-based insurance firm.
A chemical engineer by training who cut his teeth at Imperial Oil in Western Canada, Young has experience in management consulting and corporate strategy as a former partner at Bain & Co. and a founding partner with Boston-based private equity firm Monitor Clipper.
He has also served as chairman of Queen’s University’s board of trustees, and is currently chairman emeritus.
SNC has been working to set a new strategic direction over the past year including the addition of several new senior executives and changes on its board of directors.