CALGARY, AB, Feb. 23, 2022 /PRNewswire/ -- Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA)
today announced that it has appointed Scott
Burrows as the Company's President and Chief Executive
Officer. This appointment concludes the previously announced
executive search process undertaken by the Pembina Board of
Directors. Mr. Burrows previously served as the Company's Chief
Financial Officer for approximately seven years and was appointed
interim President and Chief Executive Officer in November 2021. Mr. Burrows has also been
appointed to the Pembina Board of Directors.
"Pembina today has great momentum and significant opportunities,
and we are thrilled to have Scott take on the CEO role permanently
and lead Pembina into the future," said Randy Findlay, Chair of the Pembina Board of
Directors. "Scott brings the critical capabilities and qualities we
need to build on our more than 65-year history, develop our
world-class team, strengthen relationships with our stakeholders
and deliver value from our core businesses. Just as importantly, he
has the strategic vision and experience to advance our position as
a truly differentiated, integrated leader in the midstream space.
The Board looks forward to continuing to work with Scott and the
rest of the Pembina leadership team."
Pembina also announced two additional executive appointments.
Jaret Sprott, the Company's current
Senior Vice President & Chief Operating Officer, Facilities,
has been appointed Senior Vice President & Chief Operating
Officer, Pipelines and Facilities; and Eva
Bishop will be joining Pembina as Senior Vice President,
Corporate Services. Ms. Bishop has received her Canadian work
authorization and her appointment will be effective upon her
relocation from London to
Calgary in April. Cameron Goldade, previously Pembina's Vice
President – Capital Markets, continues to serve as the Company's
interim Chief Financial Officer, as management and the Board
evaluate internal and external candidates for that position. Along
with these leadership changes, the Company also announced that
Harry Andersen, formerly Senior Vice
President & Chief Operating Officer, Pipelines, has departed
the Company to pursue other opportunities.
"I want to thank the Board for this opportunity to lead Pembina
at an important and dynamic time for our company and our industry,"
said Scott Burrows. "We have a
tremendous team at Pembina and a group of partners and stakeholders
that we are very proud to serve and collaborate with. Our industry
will continue to evolve to meet the needs of our customers and
provide sustainable energy solutions for this generation and those
to come. In that process, Pembina will continue to be a leader,
employer and partner of choice, with a workforce dedicated to
excellence, safety and continuous improvement. I look forward to
delivering on our goals for the benefit of our shareholders,
customers, communities and employees."
Added Burrows, "I am also very excited by the two new
appointments that will significantly strengthen our leadership
team. Jaret Sprott's promotion to
the newly combined position of Pembina's COO, Pipelines and
Facilities, recognizes his strong leadership and significant
contributions to the Company over the last seven years. We are also
very pleased that Eva Bishop, a
proven leader with nearly 30 years of experience across the energy,
consumer goods and network industries, will be joining the Company
in April as SVP, Corporate Services. Eva will support the Executive
Committee in developing new opportunities to benefit Pembina's
various stakeholders including our employees. Finally, I want to
thank Harry Andersen for his
contributions to Pembina over the last 10 years and wish him well
on his next endeavor."
Biographies
Scott Burrows
Since November 2021, Scott served
as interim President and Chief Executive Officer. Previously, Scott
was Chief Financial Officer of Pembina for approximately seven
years, overseeing the Company's financial operations, investor
relations, treasury, tax, risk management, corporate planning,
corporate development and capital market financings.
Prior to his role as CFO, Scott served as Vice President,
Capital Markets, and as Vice President, Corporate Development and
Investor Relations. In these roles, Scott was responsible for
guiding Pembina through its corporate-level financial analysis of
business opportunities in addition to strategic development and
planning, acquisitions and divestitures. He also supported the
Company's participation in the capital markets by evaluating
various financing alternatives and oversaw Pembina's investor
relations and related marketing initiatives.
Before joining Pembina in November
2010, Scott spent seven years in energy-focused investment
banking where he provided advice and counsel related to mergers and
acquisitions, dispositions, joint ventures and equity and debt
financings. He has considerable experience in the energy industry,
including petroleum, natural gas and other product pipelines and
related infrastructure facilities. Scott has a Bachelor of Commerce
from the University of British Columbia
and is also a CFA® Charterholder.
Jaret Sprott
Since January 2018, Jaret served
as Senior Vice President & Chief Operating Officer, Facilities.
In this role, Jaret was accountable for safe, reliable and
responsible management of gas processing, fractionation, rail,
storage and import/export assets at Pembina. He also oversaw
Pembina's Aux Sable and Veresen
Midstream joint ventures and was a member of the Cedar LNG Board.
These responsibilities will continue in his new position.
Prior to his role as SVP & COO, Facilities, upon joining
Pembina in January 2015, Jaret was
Vice President, Gas Services. In both his previous roles, Jaret has
contributed to a significant portion of the Company's growth over
the past seven years.
Before joining Pembina, Jaret had extensive upstream experience,
having most recently worked at Ovintiv (formerly Encana
Corporation) in a senior management position, where he was
responsible for the growth of the company's core Montney liquids play in Alberta. He also brings a resource background
in all key WCSB geological plays, strategic planning, engineering,
operations and facility construction.
Jaret graduated with a Bachelor of Applied Science in Petroleum
Systems Engineering from the University of
Regina in 2002 and is a member of APEGA.
Eva Bishop
Ms. Bishop has nearly 30 years of experience working across the
energy, consumer goods and network industries. She joins Pembina
from BP Europa, where she served as a non-executive director. Eva
has been a General Counsel in a broad variety of industries around
the world and has held senior executive and non-executive positions
in global corporations such as Royal Mail, Coca-Cola Enterprises
and BP. Beyond the traditional remit of the General Counsel, Eva
has also had leading roles in crisis management, compliance,
enterprise risk management, strategy development and ESG.
Eva currently also serves as a Board Trustee of the charity
"Power of Zero", a UNICEF and UNESCO backed global campaign to
teach young children the skills and values they need for a
connected world.
Eva has a law degree from Heidelberg University, an LL.M. in European
and International Economic Law from the University of Edinburgh and is an ICF certified
executive coach.
About Pembina
Pembina Pipeline Corporation is a leading energy transportation
and midstream service provider that has served North America's energy industry for more than
65 years. Pembina owns an integrated network of hydrocarbon
liquids and natural gas pipelines, gas gathering and
processing facilities, oil and natural gas liquids infrastructure
and logistics services, and a growing export terminals business.
Through our integrated value chain, we seek to provide safe and
reliable infrastructure solutions which connect producers and
consumers of energy across the world, support a more sustainable
future and benefit our customers, investors, employees and
communities. For more information, please visit
pembina.com.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure
solutions connecting global markets:
- Customers choose us first for reliable and value-added
services.
- Investors receive sustainable industry-leading total
returns.
- Employees say we are the 'employer of choice' and value
our safe, respectful, collaborative and inclusive work
culture.
- Communities welcome us and recognize the net positive
impact of our social and environmental commitment.
Pembina is structured into three Divisions: Pipelines Division,
Facilities Division and Marketing & New Ventures Division.
Pembina's common shares trade on the Toronto and New
York stock exchanges under PPL and PBA, respectively. For
more information, visit www.pembina.com.
Forward-Looking Statements and Information
This news release contains certain forward-looking statements
and forward-looking information (collectively, "forward-looking
statements"), including forward-looking statements within the
meaning of the "safe harbor" provisions of applicable securities
legislation, that are based on Pembina's current expectations,
estimates, projections and assumptions in light of its experience
and its perception of historical trends. In some cases,
forward-looking statements can be identified by terminology such as
"continue", "anticipate", "schedule", "will", "expects",
"estimate", "potential", "planned", "future", "outlook",
"strategy", "protect", "trend", "commit", "maintain", "focus",
"ongoing", "believe" and similar expressions suggesting future
events or future performance.
In particular, this news release contains forward-looking
statements pertaining to, without limitation, the following:
Pembina's corporate strategy and the development of new
business initiatives and growth opportunities and expectations
about industry activities and development opportunities, including
outlooks related thereto.
The forward-looking statements are based on certain
assumptions that Pembina has made in respect thereof as at the date
of this news release regarding, among other things: oil and gas
industry exploration and development activity levels and the
geographic region of such activity; the success of Pembina's
operations; prevailing commodity prices, interest rates, carbon
prices, tax rates and exchange rates; the ability of Pembina to
maintain current credit ratings; the availability of capital to
fund future capital requirements relating to existing assets and
projects; future operating costs; geotechnical and integrity costs;
that any third-party projects relating
to Pembina's growth projects will be sanctioned and
completed as expected; that any required commercial agreements can
be reached; that all required regulatory and environmental
approvals can be obtained on the necessary terms in a timely
manner; that counterparties will comply with contracts in a timely
manner; that there are no unforeseen events preventing the
performance of contracts or the completion of the relevant
projects; prevailing regulatory, tax and environmental laws and
regulations; maintenance of operating margins; the amount of future
liabilities relating to lawsuits and environmental incidents; and
the availability of coverage under Pembina's insurance
policies (including in respect of Pembina's business interruption
insurance policy).
Although Pembina believes the expectations and material
factors and assumptions reflected in these forward-looking
statements are reasonable as of the date hereof, there can be no
assurance that these expectations, factors and assumptions will
prove to be correct. These forward-looking statements are not
guarantees of future performance and are subject to a number of
known and unknown risks and uncertainties including, but not
limited to: the regulatory environment and decisions and Indigenous
and landowner consultation requirements; the impact of competitive
entities and pricing; reliance on third parties to successfully
operate and maintain certain assets; labour and material shortages;
reliance on key relationships and agreements; the strength and
operations of the oil and natural gas production industry and
related commodity prices; non-performance or default by
counterparties to agreements which Pembina or one or more of its
affiliates has entered into in respect of its business; actions by
governmental or regulatory authorities, including changes in tax
laws and treatment, changes in royalty rates, climate change
initiatives or policies or increased environmental regulation; the
ability of Pembina to acquire or develop the necessary
infrastructure in respect of future development projects;
fluctuations in operating results; adverse general economic and
market conditions in Canada,
North America and worldwide,
including changes, or prolonged weaknesses, as applicable, in
interest rates, foreign currency exchange rates, commodity prices,
supply/demand trends and overall industry activity levels; risks
relating to the current and potential adverse impacts of the
COVID-19 pandemic; constraints on the, or the unavailability of,
adequate infrastructure; the political environment in North
American and elsewhere, and public opinion; the ability to access
various sources of debt and equity capital; changes in credit
ratings; counterparty credit risk; technology and cyber security
risks; natural catastrophes; and certain other risks detailed from
time to time in Pembina's public disclosure documents available at
www.sedar.com, www.sec.gov and through Pembina's website at
www.pembina.com.
This list of risk factors should not be construed as
exhaustive. Readers are cautioned that events or circumstances
could cause results to differ materially from those predicted,
forecasted or projected. The forward-looking statements contained
in this document speak only as of the date of this document.
Pembina does not undertake any obligation to publicly update or
revise any forward-looking statements or information contained
herein, except as required by applicable laws. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement.
For More Information: Sarah Schwann, Vice President, External
Affairs, e-mail: sschwann@pembina.com,
www.pembina.com