N.A. Construction's Lambert resigns as president, CEO

Executive Summary

• Joe Lambert has resigned as President and CEO of North American Construction Group Ltd., with Chief Operating Officer Barry Palmer assuming the role on an interim basis while a permanent search is conducted.
• The company confirms that the acquisition of Iron Mine Contracting remains on schedule, with a targeted closing within the current quarter.
• The company expects to announce the date for its 2025 annual report release in the coming weeks.

Key Details

• CEO Resignation: Joe Lambert resigned from the position of President and Chief Executive Officer to pursue other opportunities, effective immediately.
• Interim Leadership: Barry Palmer, currently the Chief Operating Officer, has assumed the role of President and Chief Executive Officer on an interim basis.
• Search Process: The company has initiated a process to assess both internal and external candidates for the permanent CEO role.
• M&A Update: Closing activities for the acquisition of Iron Mine Contracting are on schedule, with a targeted closing date set for the current quarter.
• Financial Reporting: The company plans to provide a date for the release of its 2025 annual report in the coming weeks.

Notable Quotes

• Martin Ferron, Chairman: "I would like to take this opportunity to thank Mr. Lambert for his dedication and loyalty to the company. During his tenure, Joe successfully led the company to new levels of geographic and commodity diversification while also navigating through unprecedented challenges. In no small part, due to his leadership, NACG is now very well positioned to be a strong competitor in the civil construction, mining and earthworks markets throughout North America and Australia."
• Barry Palmer, Interim President and CEO: "We remain focused on our customers at the start of 2026 and I am looking forward to leading our company into this important year. Having been here for over 40 years, I will ensure that our teams stay focused on safety and operational excellence. We have the people, equipment and culture to achieve our targets and our collective goal is to continue to grow by building on the solid foundation that is in place."