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Aecon road crews work on Highway 407, north of Toronto.

Kevin Van Paassen/Kevin Van Passen/The Globe and Mail

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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