CEO of Atomic Energy of Canada Limited to Step Down After Term Ends in 2027

Atomic Energy of Canada Limited (AECL) announced on July 28 that, after consultation with the Chair of the Board, the company's President and Chief Executive Officer, Fred Dermarkar, has informed the Board that he will not seek reappointment after his term ends on February 7, 2027.

AECL stated that Dermarkar believes that as the company enters a new and important phase of development, now is the appropriate time to initiate a leadership transition. He will continue to serve until the end of his term to ensure management continuity while the company advances its key strategic priorities and to support a smooth handover to new leadership.

This personnel announcement comes at a time of active development in Canada's nuclear energy industry. Previously, the Canadian government released the Nuclear Energy Strategy, highlighting the important role of nuclear energy, science, technology, and innovation in enhancing energy security, promoting economic prosperity, and achieving environmental goals.

During Dermarkar's tenure, AECL has continued to collaborate with Canadian Nuclear Laboratories (CNL) to advance Canada's nuclear energy industry capacity building and strengthen AECL's positioning as a strategic participant in the industry's future. Related efforts include improving corporate governance models and governance frameworks, enhancing CNL's status as Canada's national nuclear laboratory, increasing operational efficiency and organizational effectiveness, and deepening cooperation with industry, academia, and government departments.

AECL also stated that the company has made progress in advancing Indigenous relations and reconciliation, including establishing long-term partnerships based on respect, cooperation, and shared opportunities.

James Burpee, Chair of the AECL Board of Directors, thanked Dermarkar for his leadership and service. He stated that during a period of significant transformation and renewal for AECL, Dermarkar demonstrated exceptional leadership, helping the company consolidate its strategic position in Canada's nuclear energy sector, strengthen oversight of the Government-Owned, Contractor-Operated model, and collaborate with CNL to enhance Canada's nuclear science and technology capabilities in support of national priorities.

Dermarkar stated that serving as President and CEO of AECL has been one of the great honors of his career. He thanked the employees of AECL and CNL, the AECL Board of Directors, Indigenous nations and communities, and partners in government, industry, academia, and the nuclear energy sector for their support, and expressed confidence in the capabilities of the AECL and CNL teams and the future of nuclear energy in Canada.

AECL stated that the company will continue to fulfill its responsibilities on behalf of the Government of Canada, advancing priorities that support nuclear science and technology, environmental protection, innovation, and economic growth, and will continue to collaborate with CNL, Indigenous nations and communities, industry, academia, utilities, and government departments.