CALGARY, ALBERTA--(CCNMatthews - Jan. 15, 2007) - AltaGas Income Trust (AltaGas or the Trust) (TSX:ALA.UN) today announced the appointment of Richard M. Alexander as Executive Vice President, Chief Operating Officer and Chief Financial Officer and David R. Wright as Executive Vice President.
Richard M. Alexander has been promoted to Executive Vice President and Chief Operating Officer effective January 16, 2007. Mr. Alexander retains his current position as Chief Financial Officer. Mr. Alexander joined the Trust as Senior Vice President Finance and Chief Financial Officer on May 1, 2006. He has his Chartered Financial Analyst designation, is a CMA (Society of Management Accountants), a member of the Society of Financial Analysts and has a Bachelor of Business Management from Ryerson University in Toronto.
David R. Wright is joining the Trust as Executive Vice President effective January 16, 2007. Mr. Wright most recently served as Executive Vice President, General Counsel and Corporate Secretary of EPCOR and prior to that was a senior partner with a national Canadian law firm. Mr. Wright holds a law degree from the University of Calgary, Masters and Bachelor of Science degrees from the University of Manitoba and attended the Advanced Management Program at Harvard Business School.
David W. Cornhill, Chairman, President and Chief Executive Officer of AltaGas said, "I will remain as President and Chief Executive Officer of AltaGas and will continue to serve as Chairman of the AltaGas General Partner Inc. Board of Directors. Richard Alexander and David Wright will report to me and we will comprise the Executive Committee at AltaGas. Richard Alexander is responsible for the day to day operations of all AltaGas operating business segments, as well as all financial matters. David Wright is responsible for corporate strategy and business development activities, as well as other corporate functions." He added, "I look forward to working with Richard and David as we continue to implement our strategy to build AltaGas for the future to enhance unitholder value."
AltaGas Income Trust is one of Canada's largest and fastest growing integrated energy infrastructure and services organizations. The Trust creates value by growing and optimizing assets and services across the energy value chain to serve North America's energy demand. Since 1994, AltaGas Income Trust has expanded its business to include natural gas gathering, processing and transmission, extraction of ethane and natural gas liquids, power generation, marketing of natural gas and natural gas liquids, as well as retail energy services to commercial, industrial and institutional end-users across Canada.
AltaGas Income Trust's units are listed on the Toronto Stock Exchange under the symbol ALA.UN. The Trust is included in the S&P/TSX Composite Index, the S&P/TSX Capped Income Trust Index and the S&P/TSX Capped Energy Trust Index.
This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Trust or an affiliate of the Trust, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Trust's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Trust's public disclosure documents. Many factors could cause the Trust's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Trust does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.