Shawcor Ltd. announced that Derek Blackwood has decided to retire after 14 years of service as an independent director, including 3 years as board chair, and will not seek re-election at the Company?s 2024 Annual General Meeting. The Company?s board of directors have unanimously selected Kevin Nugent as Mattr?s new board chair. Mr. Nugent will assume this role effective December 1, 2023 and Mr. Blackwood will remain as a director of the Company until his retirement on May 14, 2024.

Consistent with the Company?s succession practice, Mr. Blackwood will engage in a robust transition process with Mr. Nugent to enable a seamless transfer of responsibilities. Mr. Nugent is an independent businessperson and has been a corporate director since 2007, holding numerous director roles in a variety of public and private companies, non-profit and governmental organizations. Mr. Nugent is also a Chartered Professional Accountant, with over 35 years of broad-based management experience.

Mr. Nugent holds a Bachelor of Management from the University of Lethbridge and a Chartered Professional Accountant, CA (honors) designation from the Institute of Chartered Professional Accountants of Alberta. In addition to his role on the board of Mattr, Mr. Nugent currently serves as a director of the Banff Sport Medicine Foundation in addition to several private companies.