Plains All American Pipeline, L.P. (NYSE: PAA)
and Plains GP Holdings (NYSE: PAGP)
today announced that their Board of Directors and Greg Armstrong,
Chairman and Chief Executive Officer, have established October 1, 2018
as the effective date of Mr. Armstrong's retirement as CEO, which
retirement was previously announced in November 2017. Willie Chiang,
PAA's current Executive Vice President and Chief Operating Officer, has
been formally approved by the Board of Directors as CEO effective upon
Armstrong's retirement. Armstrong will remain non-executive Chairman of
the Board of Directors through the end of 2019.
"The upcoming transition reflects the culmination of several years of
thoughtful preparation and succession planning," Armstrong said.
"Willie, Harry and I have worked closely over the last three years on
this transition and related organizational changes. I am pleased that
Willie will become the next CEO at PAA, and I believe Plains is very
well positioned to continue to grow and prosper."
Willie Chiang joined PAA in 2015 as Executive Vice President and Chief
Operating Officer - U.S., and was appointed to the Board of Directors in
February 2017. In November 2017, Mr. Chiang was promoted to the role of
Chief Operating Officer for all of the Partnership's operations. Mr.
Chiang has more than 30 years of energy industry experience, having
served in a number of executive leadership roles within large, complex
organizations like PAA. Prior to joining PAA, Mr. Chiang held the
positions of Executive Vice President, Operations at Occidental
Petroleum, and Senior Vice President of Refining, Marketing,
Transportation and Commercial for ConocoPhillips.
"As Co-Founder of Plains, and CEO for over 25 years, Greg has been a key
driver in the growth and success of PAA. I am grateful for the support
and confidence that Greg, Harry and the Board have shown in me and I'm
very excited and honored to assume the responsibilities of CEO of
Plains," Chiang said. "I look forward to continuing to work closely with
our executive team, Board of Directors and employees to advance PAA's
progress as a leading midstream energy company."
In addition to formally approving the CEO transition, PAA's Board of
Directors approved the following officer promotions:
Chris Herbold, age 46, was promoted to Senior Vice President and Chief
Accounting Officer. Mr. Herbold joined Plains in 2002, serving in
increasing roles of responsibility and was appointed Vice President -
Accounting and Chief Accounting Officer in 2010.
Keith Jalbert, age 53, was promoted to Senior Vice President -
Commercial Activities. Mr. Jalbert joined PAA in 2002 and has been
continuously involved in the development, implementation and execution
of commercial strategies to help optimize PAA's asset base, system
logistics and crude oil purchases and sales. Mr. Jalbert was appointed
Vice President, Commercial Activities, in 2014.
Megan Prout, age 42, was promoted to Senior Vice President -
Commercial Law and Litigation. Ms. Prout joined PAA in 2005 and has
been involved in or directly responsible for overseeing the legal
aspects of PAA's day-to-day operations, with a focus on commercial
contracts and litigation. She was appointed Vice President, Commercial
Law and Litigation in 2016.
Carol Sandvick was promoted to Vice President - Law, Mergers and
Acquisitions. Ms. Sandvick joined Plains in 2008 and is responsible
for the legal work supporting PAA's acquisitions and divestitures and
the formation and ongoing operation of our Joint Ventures. She served
previously as Associate General Counsel.
Kevan Taylor, age 43, was promoted to Vice President - Lease Supply
and Senior Executive Permian. Mr. Taylor joined Plains in 2011 and
serves as PAA's top executive located in the Permian basin and is
responsible for leading our lease purchasing activities in the
Permian, building and maintaining key customer relationships and
coordinating our commercial, operations, and lease gathering
activities. He previously served as Managing Director and Senior
Jason Blevins, age 40, was promoted to Vice President - Operations,
Southern Region. Mr. Blevins joined Plains in 2013 and is responsible
for leading the operations and maintenance activities for pipelines
and terminals in PAA's Southern region, which includes Texas and New
Mexico. He previously served as Senior Director, Southern Region
Operations; Director, Eastern Region Operations and Manager of
Engineering Quality and Safety.
Plains also announced that the following officers have retired or are
planning to retire:
Lawrence Dreyfuss, age 63, Senior Vice President, General Counsel -
Commercial & Litigation and Assistant Secretary, retired effective
June 30, 2018. Mr. Dreyfuss has been with PAA or its predecessors
since 1981, and will remain as an advisor to the company over the
John vonBerg, age 64, Executive Vice President - Commercial
Activities, is retiring effective September 30, 2018. Mr. vonBerg
joined PAA in 2002 and has played a critical role in the development
and execution of commercial strategies to optimize PAA's asset base.
Robert Sanford, age 68, Vice President - Lease Supply, is retiring
from his full-time position effective January 1, 2019, and will remain
as an advisor on a part-time basis in 2019. Mr. Sanford joined PAA in
2004 and has been responsible for our domestic lease gathering and
"Larry, John and Robert have each been significant contributors to the
growth and profitability of Plains over the last 15 plus years," said
Armstrong. "Thanks in large part to their efforts, since 2002, Plains
has grown from $130 million in Adjusted EBITDA to more than $2 billion
Chiang added, "On behalf of all of Plains' stakeholders, we extend a
heart-felt thank you to Larry, John and Robert and wish them well in
retirement. We also offer congratulations to Chris, Keith, Megan, Carol,
Kevan and Jason for their well-deserved promotions. We look forward to
working closely with each of these individuals over the coming years."
About Plains All American Pipeline
Plains All American Pipeline, L.P. is a publicly traded master limited
partnership that owns and operates midstream energy infrastructure and
provides logistics services for crude oil, NGLs and natural gas. PAA
owns an extensive network of pipeline transportation, terminalling,
storage, and gathering assets in key crude oil and NGL producing basins
and transportation corridors and at major market hubs in the United
States and Canada. On average, PAA handles more than 5 million barrels
per day of crude oil and NGL in its Transportation segment. PAA is
headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
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Plains All American Pipeline, L.P. and Plains GP Holdings
Magill, (866) 809-1291
Director, Investor Relations
Leone, (866) 809-1290