SNC-Lavalin Suspends Payments to Former CEO - Corruption Currents - WSJ


SNC-Lavalin Group Inc. said Thursday it was suspending severance payments to its former chief executive following his arrest last month by Quebec’s anti-corruption police squad.

Gwyn Morgan, chairman of SNC, said in a statement he was “disturbed” to learn that Pierre Duhaime, former CEO and president of the engineering giant, was charged by Canadian authorities. The board decided to suspend the agreed-upon severance package that accompanied his leaving the firm.

“While none of the charges have been proven, this development suggests that there may be additional facts regarding Duhaime of which the board was not aware at the time of his departure,” the statement said. “Until the facts surrounding Duhaime’s situation are clarified or resolved, the payments under these arrangements will be held separately.”