Plains All American Pipeline, L.P. (NYSE:PAA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k

7 years ago

Plains All American Pipeline, L.P. (NYSE:PAA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November6, 2017, the Registrant issued a press release announcing Greg L. Armstrong’s plans to retire as Chief Executive Officer of Plains All American Pipeline, L.P. and Plains GP Holdings, L.P. at the end of 2018. Under a management succession plan and transition process approved by the Board of Directors of PAA GP Holdings LLC, Willie Chiang, who currently serves as Executive Vice President and Chief Operating Officer — U.S., will become CEO upon Mr.Armstrong’s retirement and Mr.Armstrong will continue as non-executive Chairman of the Board of Directors through December2019, at which time he will retire from the Board. Harry Pefanis will continue as President and a Director. In connection with the succession plan transition process, Mr.Chiang’s role as Chief Operating Officer will be expanded to cover both the U.S. and Canada, and Mr.Pefanis will take on the newly created additional role of Chief Commercial Officer.

A copy of the press release is filed as Exhibit99.1 to this Current Report on Form8-K. and incorporated into this item by reference. Information regarding Mr.Chiang’s business experience and compensation arrangements is included in the Registrant’s Annual Report on Form10-K for the year ended December31, 2016 as filed with the SEC.

Item 5.02. Financial Statements and Exhibits.

(d) Exhibits

Exhibit99.1 —

Press Release dated November6, 2017.

PLAINS ALL AMERICAN PIPELINE LP ExhibitEX-99.1 2 a17-26180_1ex99d1.htm EX-99.1 Exhibit 99.1 Plains All American Provides Details on Management Succession Plan and Transition Process November 6,…To view the full exhibit click here
About Plains All American Pipeline, L.P. (NYSE:PAA)
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Its Transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges. Its Facilities segment operations consist of activities associated with providing storage, terminalling and throughput services for crude oil, refined products, NGL and natural gas, as well as NGL fractionation and isomerization services and natural gas and condensate processing services. Its supply and logistics segment operations consist of the merchant-related activities, including sale of gathered and bulk-purchased crude oil, as well as sales of NGL volumes purchased from suppliers and natural gas sales attributable to the activities.