AltaGas Ltd. Announces Chief Executive Officer Succession
CALGARY, ALBERTA--(Marketwired - Oct. 28, 2015) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that after 21 years David Cornhill has informed the Board of Directors of AltaGas of his intention to retire from his position of Chief Executive Officer and also as an employee of AltaGas, on April 15, 2016. At that time, David Harris will be promoted to President and Chief Executive Officer.
David Cornhill will remain as Chairman of the Board and Founder of AltaGas. He will continue to be actively involved in strategy development, capital allocation and stakeholder relations.
"My focus is to ensure our continuing commitment to development and ownership of clean energy infrastructure," said David Cornhill. "Thinking about the future of our company and how we maintain our entrepreneurial culture as we move forward in a financially disciplined manner will be my priority."
David Harris has over 25 years of experience in energy infrastructure and over five years with AltaGas. Mr. Harris played a critical role in the successful completion of the Northwest Hydro projects and the growth of AltaGas' US power business. He led the creation of AltaGas' outstanding operational and construction capability which supports the Corporation's infrastructure growth plans. Mr. Harris currently holds the role of President and Chief Operating Officer.
"The AltaGas Board and I have been working together over the past two years to build an organization for the next decade," said David Cornhill. "We have developed a strong team with the skills and drive to deliver on AltaGas' growth strategy. I look forward to actively working with the AltaGas team in my future role."
"The Board wishes to acknowledge the tremendous success that AltaGas has had under the executive leadership of David Cornhill," said Myron Kanik, Lead Director. "We are pleased that David will be providing guidance to the Corporation in his continuing role as Chairman and Founder."
AltaGas is a leading North American diversified energy infrastructure company. AltaGas owns or operates a diversified mix of assets in gas, power, and utilities. The Corporation creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: www.altagas.ca
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 AltaGas or an affiliate of AltaGas, 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 AltaGas' 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 AltaGas' public disclosure documents. Many factors could cause AltaGas' 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. AltaGas 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.