CALGARY, Oct. 2, 2014 /CNW/ - The Board of Dirctors of Keyera Corp. (TSX:KEY) ("Keyera") is pleased to announce that David Smith, currently Keyera's President and Chief Operating Officer, will become President and Chief Executive Officer and that Jim Bertram, currently Chief Executive Officer, will be assuming the role of Executive Chair of the Board of Directors, all effective January 1, 2015.
In connection with these changes, Douglas Haughey will be appointed as Keyera's Independent Lead Director, Robert Catell will continue as a Director but will be stepping down as Chair, and Mr. Smith will be joining the Board of Directors.
"Succession planning has been a top priority for Keyera over the last several years and we are extremely proud of the depth of leadership within the organization," said Bob Catell, Chair of the Board. "Thanks to Jim's leadership and vision, Keyera has consistently delivered exceptional value to our shareholders and customers. We support his decision to transition to the Executive Chair role and are very pleased to have David as our next Chief Executive Officer to lead the company into the future."
"I would like to congratulate David and Doug on their new roles, and to thank Bob for his valuable contributions to our Board, including the leadership and guidance he has provided while serving as Chair," said Jim Bertram. "I am excited about my new role and the opportunities I will have to continue working with my fellow Directors and the rest of the Keyera team."
"Keyera's strategy will continue to focus on the exciting portfolio of growth opportunities ahead of us," said David Smith. "I am grateful for the opportunity and I am proud to lead Keyera's exceptional team of employees as we continue to grow."
About the Appointees
David Smith has held senior management roles with Keyera and its predecessors since the company's inception in 1998. He has more than 30 years of experience in the energy industry in Canada. He began his career with Imperial Oil Limited in 1982 and joined Gulf Canada Resources Limited in 1991. He holds a Bachelor of Mathematics degree from the University of Waterloo, a Master of Business Administration degree from Harvard University and the ICD.D designation from the Institute of Corporate Directors.
Jim Bertram has been the Chief Executive Officer of Keyera since 1998 and has been a Director of Keyera since Keyera's initial public offering in 2003. He was previously employed at Gulf Canada Resources Limited as Vice President - Marketing for worldwide operations.
Doug Haughey has more than 35 years of experience in the energy industry. From August 2012 through May 2013 he was the CEO of Churchill Corporation and prior thereto he was the President and CEO and a director of Provident Energy Ltd. Between 1999 and 2008 he held various senior executive positions with Spectra Energy Corp. and its predecessor companies, including the President & CEO of Spectra Energy Income Fund and President of Spectra's western Canadian natural gas midstream infrastructure and logistics business. He has been a Director of Keyera since May 2013.
Keyera Corp. (TSX:KEY) operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and processing as well as the processing, transportation, storage and marketing of natural gas liquids (NGLs), the production of iso-octane and crude oil midstream activities.
Keyera's gas processing plants and associated facilities are strategically located in the west central, foothills and deep basin natural gas production areas of the Western Canada Sedimentary Basin. Its NGL and crude oil infrastructure, including pipelines, terminals and processing and storage facilities, as well as its iso-octane facility, are located in Edmonton and Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets propane, butane, condensate and iso-octane to customers in Canada and the United States.
SOURCE: Keyera Corp.
For further information: about Keyera, please visit our website at www.keyera.com or contact: John Cobb, Vice President, Investor Relations and Information Technology, E-mail: [email protected], Telephone: (403) 205-7670 / Toll Free: (888) 699-4853.