TC Energy CEO to Retire End of the Year

(Reuters) — Canadian pipeline operator TC Energy Corp said on Monday that the company’s CEO Russ Girling will retire at the end of this year. 

Chief Operating Officer François Poirier will take over as its president and chief executive officer the company said in a statement and Girling will remain to assist with the transition until Feb 28.

Girling, who has headed the company since July 2010, has been witness to the roadblocks faced by its decade-old Keystone Pipeline project, which has been delayed by opposition from landowners, environmental groups and tribes.

In July, the U.S. Supreme Court reinforced a lower court ruling that blocked a key environmental permit, blocking substantial U.S. construction at the pipeline.

Poirier, who is also president of the company's power & storage and Mexico units, will join the board on Jan.1, 2021.

Shares of the company are down more than 12% so far this year.

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