News Releases
EDMONTON, Aug. 20 /CNW/ - The Churchill Corporation (TSX: CUQ) announced
today that Peter F. Adams, Chairman and Interim CEO of the Corporation has
moved to the position of President and CEO. Dr. Adams will step down from his
position as Chairman of the Board of Directors, but will remain a Director of
the Corporation. Board members Albrecht W.A. Bellstedt, Q.C. and Ian M. Reid
will take on the positions of Chairman and Vice-Chairman respectively. The
Corporation is delighted that Dr. Adams will continue as President and CEO
until the search for a successor is concluded, at which time Dr. Adams intends
to retire.
Dr. Adams has served as Chairman since 2002 and as Interim CEO since
January 2007. Prior to his appointment at the Churchill Corporation he was the
President and CEO of the Canadian Petroleum Institute from 1993 to 2002; he
had previously served as the Dean of Engineering of the University of Alberta
and as President of the Centre for Frontier Engineering.
Mr. Bellstedt is currently President, A.W.A Bellstedt Professional
Corporation, a consulting services company. Prior to February 1, 2007,
Mr. Bellstedt was Executive Vice-President, Law and Corporate, TransCanada
Corporation, a North American energy services company. Mr. Bellstedt was
previously with the law firm of Fraser Milner Casgrain. Mr. Bellstedt is a
director of Canadian Western Bank and Chair of its Conduct Review Committee.
Mr. Bellstedt is also the Lead Director of The Forzani Group Ltd.
Mr. Reid has recently retired as President of Finning (Canada), a
division of Finning International Inc. He is currently a member of the Board
of Governors for Junior Achievement of Northern Alberta and NWT and cabinet
member and past Campaign Chair of the Capital Region United Way. He recently
served a four year term as Chair, NAIT Board of Governors. Previous
directorships include Alberta Chamber of Resources, Keyano College Foundation,
Economic Development Edmonton (EDC), Canadian Chamber of Commerce, & The
Edmonton Symphony Orchestra. Mr. Reid was named one of Alberta's 50 Most
Influential People for 2004 by Alberta Venture Magazine.
About The Churchill Corporation:
The Churchill Corporation provides building construction, industrial
construction and maintenance services throughout Western Canada. Churchill
common shares are listed on the Toronto Stock Exchange under the symbol "CUQ".
FORWARD LOOKING STATEMENTS
Certain statements in this Press Release may constitute "forward-looking
statements". Forward-looking statements include, without limitation,
statements regarding the future financial position, business strategy,
budgets, litigation, projected costs, capital expenditures, financial results,
taxes, plans and objectives of the Corporation. Many of these statements can
be identified by looking for words such as "believes," "expects," "may,"
"will," "intends," "anticipates," "estimates," "continues," or the negative
thereof, or other variations thereon. Although management of Churchill
believes its expectations regarding future performance of the Corporation are
based on reasonable assumptions and currently available competitive, financial
and economic data, market conditions and operating plans, it can give no
assurance its expectations will be achieved. The Corporation cautions that, by
their nature, forward-looking statements, involve risks, and uncertainties and
that its actual actions, and/or results could differ materially from those
expressed or implied in such forward-looking statements, and that the
aforementioned risks, uncertainties and actions could affect the extent to
which a particular projection materializes. The Corporation assumes no
obligation to update the forward-looking statements should circumstances or
the Corporation's management's estimates or opinions change.
