TC Energy Corporation has announced Russ Girling's retirement as President and Chief Executive Officer and from its Board of Directors effective December 31, 2020.
François Poirier, currently Chief Operating Officer, President, Power & Storage and Mexico, will succeed Mr. Girling as President and Chief Executive Officer and will join the Board January 1, 2021. Mr. Girling will assist Mr. Poirier with the transition through February 28.
"On behalf of all Board members, I would like to thank Russ for his invaluable contributions to the Company," says Siim Vanaselja, Chairman of the Board of Directors. "Over the last decade, he has led TC Energy through a period of unprecedented growth and transformation, including the development of its Liquids pipelines footprint, expansion of its Mexican natural gas pipelines business, the successful US$13 billion acquisition of Columbia Pipeline Group and advancement of North American LNG.
"In addition to delivering tremendous shareholder value during his tenure, Russ created a culture of excellence in the Company, focused first on the safety of our employees and those in the communities where we operate. His discipline, integrity and strategic leadership have been instrumental in the success our Company has enjoyed. Russ has been a pleasure for the Board to work with and we wish him all the best in his retirement."
"It has been a privilege and honour to lead TC Energy over the past 10 years and to be part of the extraordinary TC team," says Girling. "With the wisdom and guidance of the Board and the skills and tenacity of our dedicated employees, we have accomplished many things, delivered the energy critical to millions of people safely and reliably every day, and created significant shareholder value. I am grateful for the opportunity and confident in how the Company is positioned to prosper as global demand for energy continues to grow and transition in the years ahead."
"Executive development and succession planning are important responsibilities of the Board of Directors," says Vanaselja. "We are confident in our choice of François as Russ's successor having seen first-hand his outstanding vision and leadership over six years at TC Energy. He has had exposure to all aspects of our business and consistently shown unwavering commitment to the Company's long-term success. His integrity, strategic thinking, commercial acumen and bottom-line focus will serve the Company well in the years ahead."
"I have had the opportunity to work with François over the past six years at TC Energy and for almost two decades in his previous career as an investment banker in our sector. I am confident in his commitment to our values and his tenacity and business acumen to lead the Company as it navigates the changing energy landscape and continues to grow shareholder value," says Girling.
"I am looking forward to transitioning into this new role and am grateful to Russ for his leadership, discipline and vision," says Poirier. "The Company's strong foundation positions it very well for the future, and I'm excited to lead TC Energy to continued success."