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Aecon road crews work on Highway 407, north of Toronto. (Kevin Van Paassen/Kevin Van Passen/The Globe and Mail)
Aecon road crews work on Highway 407, north of Toronto. (Kevin Van Paassen/Kevin Van Passen/The Globe and Mail)

Aecon president stepping down Add to ...

Construction firm Aecon Group Inc. says president Scott Balfour will exit the company at the end of the month to pursue other opportunities.

The Toronto-based firm announced that chairman and CEO John Beck will assume the role.

"Scott is a friend, and has been a big part of Aecon's success over the past 17 years," Mr. Beck said in a release.

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"I wish him the very best in everything he undertakes."

In the third quarter, Aecon posted a big decline in its profit to $17.2-million from with $29.7-million a year earlier. Revenue was up to $800-million for the three months, compared with $707-million.

The company has also signed numerous contracts in recent months including a $279-million agreement with the Toronto Transit Commission to extend one of the city's main subway lines northward, and a $25-million contract from Bird Construction Co. to upgrade and expand its water treatment plant in Fort McMurray, Alta.

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