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Pembina announces CEO leadership transition

Published by , Editorial Assistant
World Pipelines,

Pembina Pipeline Corporation (‘Pembina’ or the ‘Company’) has announced that Mick Dilger has stepped down as President and Chief Executive Officer to pursue other opportunities. The Board of Directors has named Scott Burrows, Pembina's current Chief Financial Officer, as interim President and Chief Executive Officer.

The Board will be working with a leading search firm to identify and evaluate internal and external candidates for a new CEO to lead Pembina in its next chapter. With Mr. Burrows' appointment, Cameron Goldade, currently Pembina's Vice President – Capital Markets, has been appointed interim Chief Financial Officer.

"I am immensely proud of the Pembina team, the culture we have created, and what we have accomplished together. When I joined Pembina, it was a CAN$2.5 billion dollar entity in a single business and has grown into a roughly CAN$35 billion entity, operating safely, and successfully in multiple jurisdictions and in many businesses, with more underway. I am also proud of how the company has managed successfully through many challenges including the financial crisis and more recently the COVID-19 pandemic. Through an unwavering commitment to our customers, employees and communities where we operate, we have transformed Pembina into one of the most dynamic energy transportation and midstream providers in North America," Mr. Dilger said. "Pembina has a world-class team and is well positioned for the future. I will miss the many stakeholders whom I had the opportunity to serve."

"During Mick's tenure as CEO, Pembina accelerated its 65-year history of innovation and growth, becoming a truly differentiated, integrated leader in the midstream space with a strong core business. The company also built a solid foundation for long-term ESG excellence and leadership in a lower carbon economy," said Randall Findlay, Chair of the Pembina Board. "We look forward to continuing to increase the core business we have built and support the Company's long-term growth, while also being a leading participant in the energy industry's evolution to a more sustainable future. On behalf of the Board, I want to thank Mick for his service and dedication to Pembina and all of its stakeholders and for his many contributions to Pembina's strong position today."

Mr. Findlay added, "We are fortunate to have Scott stepping in to serve as our Interim President and CEO. With 11 years of experience at Pembina and nearly 18 years in the energy industry, Scott has been a key architect of the Company's growth and financial discipline, overseeing over CAN$20 billion in successful strategic acquisitions and growth investments that have reshaped our Company over the last decade. This strong track record will be essential to continuing our momentum during this transition and for the long term."

Mr. Burrows said, "Pembina's people, assets and operations are second to none in the industry. Momentum within our business and trends across the broader industry give us great optimism about the outlook for our company and our stakeholders, as we complete 2021 and look ahead to 2022. We are committed to ensuring Pembina's long-term future and that of our stakeholders."

The Company reiterated its full year 2021 guidance for adjusted EBITDA of CAN$3.3 - CAN$3.4 billion, and continues to expect to provide a fiscal 2022 guidance and capital budget update in early December.

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