Robert Van Adel

Robert Van Adel is resigning as president and CEO of Atomic Energy of Canada Ltd (AECL). Van Adel's departure, effective November 2/07, comes midway through his second term and in the midst of negotiations over the possible sale of 49% of the crown agency's commercial CANDU business (see page 3). He cited family and other commitments behind his decision to depart as well as achieving his objective of stabilizing AECL's commercial revenues. Despite the rosier financial picture, AECL has not sold a new reactor in several years and is facing stiff competition from much larger rivals. A pending decision by the Ontario government to purchase new nuclear reactors has intensified lobbying by the likes of General Electric, Areva and Bruce Power....