Aecon adds energy veteran to board

New addition to strengthen board of directors - but executive compensation gets rough ride at AGM

Nuclear option: Aecom is part of a consortium developing North America’s first grid-scale small modular reactor (SMR) in Ontario, Canada

Infrastructure giant Aecon has added a former EPCOR Utilities chief executive to its board of directors, as it revealed the voting results of its annual general meeting (AGM).

The firm’s AGM saw Stuart Lee voted onto the board, bringing with him a wealth of experience in the energy sector having spent the past eight years at the helm of EPCOR Utilities and previously held several positions, including chief financial officer, at Capital Power Corporation.

“Mr Lee brings more than two decades of experience as a financial and commercial executive in the utilities and energy sectors and we are very pleased to further strengthen our board of directors through his leadership and wealth of knowledge,” said Aecon chairman John M Beck.

Meanwhile, shareholders showed some discontent with Aecon’s approach to executive pay, with the motion only passing by 55% to 45%.

The board said it was “disappointed by the level of support” for the proposal, adding that while it believes its approach is “designed to deliver pay for performance and to align the interests of our executives with our shareholders”, it will “seek to clarify shareholder perspectives when considering future compensation matters”.