Colonial Pipeline today announced that Tim Felt, the company’s chief executive officer, has decided to retire at the end of this month. Succeeding Felt as interim CEO will be John Somerhalder, effective February 1.
“It has been a privilege to lead Colonial Pipeline over the past eight years,” Felt said. “After careful thought and consideration, now is the right time for me to retire. With an outstanding team in place to continue Colonial’s strong performance, the company is well-positioned for future success.”
During Felt’s tenure as CEO, Colonial’s business steadily grew through capacity expansion, an acquisition, joint ventures and partnerships.
“It is an honor to succeed Tim as interim CEO,” Somerhalder said. “I am excited to build upon his strong track record and look forward to continuing the great progress the company has made in bringing energy to the customers and communities that need it.”
With four decades in the energy industry, including state and regulatory experience in multiple jurisdictions, Somerhalder is an experienced and respected energy executive. He most recently served as Chairman and CEO of AGL Resources, an Atlanta-based energy services holding company with operations in natural gas distribution, retail operations, wholesale services and midstream operations, where he presided over significant growth. Prior to AGL, Somerhalder spent almost 30 years at El Paso Corporation, where he rose through the ranks from engineer to president of El Paso Pipeline Group and executive vice president of El Paso Corporation.
Somerhalder serves on the board of several energy related companies including CenterPoint Energy, Crestwood Midstream Partners and the Gas Technology Institute and several not-for-profit organizations including Atlanta BeltLine Inc., Piedmont Healthcare and United Way of Greater Atlanta. He formerly served on the boards of the American Gas Association, the Georgia Chamber of Commerce, and the Metro Atlanta Chamber of Commerce.
According to the company, a search for a permanent successor is under way.