Canadian energy infrastructure provider TransCanada Corp. (TRP,TRP.TO) on Friday announced the the appointment of Russell Girling as chief operating officer of the company, effective immediately. Girling would also continue in his role as President of the company's Pipelines business.
In a statement, president and chief executive officer, Harold Kvisle said, "Russ has demonstrated outstanding leadership over the past 15 years, establishing our Power business in its early stages, as our Chief Financial Officer in challenging circumstances earlier this decade, and more recently he has led our Pipeline business through a period of significant growth, completing the GTN, ANR and Great Lakes acquisitions and leading the development of the Keystone crude oil pipeline project."
In his new role, Girling would be responsible for overseeing the company's pipeline and energy businesses, corporate developmental activities and strategies, operations and major projects, as well as corporate services. Girling also assumes responsibility for the corporation's capital investment program.
Most recently, Girling served as president of pipelines with responsibility for the company's regulated businesses, including gas and oil pipelines in Canada, the U.S. And Mexico. While at this position, Girling led TransCanada's $4 billion acquisition of the ANR/Great Lakes Pipelines systems and the company's $12.2 billion crude oil pipeline development from Alberta to the U.S. Gulf Coast.
Prior to that, Girling was executive vice-president, corporate development and chief financial officer at TransCanada. While at this position, Girling was responsible for the company's $4.0 billion debt reduction and balance sheet restructuring in 2000. Until 2001, Girling was also president of TransCanada Gas Services and was responsible for its ultimate disposition.
Earlier, Girling was appointed as executive vice-president, power, which also led to the creation of TransCanada subsidiary, TransCanada Power LP. Girling is a former chairman of TransCanada Power and a former director of Bruce Power, Inc.
Prior to joining TransCanada in 1994, Girling held several marketing and management positions at Suncor, Inc., Northridge Petroleum Marketing and Dome Petroleum. Girling is the chairman and chief executive officer of TC PipeLines, GP, Inc., and a director of Agrium, Inc.
Additionally, Calgary, Canada-based TransCanada noted that Alex Pourbaix, who continues as president, Energy, would assume the additional role of executive vice-president, Corporate Development, and would report to Girling.
Further, Don Wishart, executive vice-president, Operations and Major Projects, as well as Sarah Raiss, executive vice-president, Corporate Services, would be reporting to Girling. Dennis McConaghy, executive vice-president, Pipeline Strategy and Development would also continue reporting to Girling.
The company also added that Greg Lohnes, executive vice-president and chief financial officer, as well as Sean McMaster, executive vice-president, Corporate and General Counsel, would continue reporting to Kvisle.
In Friday's regular trading session, TRP is currently trading at $27.92, up $0.14 or 0.52% on a volume of 44,130 shares. In the past 52-week period, the stock has been trading in a range of $20.01 to $39.18.
TRP.TO is currently trading on the Toronto Stock Exchange at C$31.16, up C$0.08 or 0.26% on a volume of 0.14 million shares. In the past 52-week period, the stock has been trading in a range of C$28.86 to C$40.65.
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