Canada

Trans Mountain Appoints Dawn Farrell as New CEO and President

Farrell served as President and CEO of TransAlta Corp. until his retirement in March 2021.

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Dawn Farrell has been appointed as the new president and chief executive officer of Trans Mountain Corp., who will officially take over on Monday.

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Farrell served as President and CEO of TransAlta Corp. until his retirement in March 2021.

She is tasked with overseeing the expansion of the controversial Trans Mountain Pipeline, a project whose budget has nearly tripled since the federal government acquired it in 2018.

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“The Trans Mountain Expansion Project has spent the last 12 years in planning and construction and is now over 60% complete, leading the organization to the end of this project while leading the next phase of the company’s future. We look forward to that,” Farrell said in a news release.

The project will increase the capacity of the 1,150-kilometer pipeline between Strathcona County and Burnaby, British Columbia from 300,000 to 890,000 barrels per day. It is now expected to be completed in the third quarter of 2023, significantly exceeding the previous goal of late 2022.

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Farrell’s appointment came after Ian Anderson announced in February that he would be stepping down in April.

She has been with TransAlta for 12 years, 9 of which as president and CEO. During her tenure, Farrell helped the company transition from coal to natural gas, and expand wind and renewable energy.

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When she stepped down, she was the longest-serving female CEO in Alberta’s energy sector.

Prior to joining TransAlta, Farrell was Executive Vice President of BC Hydro and was appointed first Chancellor of Mount Royal College in 2020.

Farrell also served on the board of Canadian Natural Resources, a company she has now stepped down from.

“A community builder with an unwavering commitment to strengthening Canada, Dawn is a dynamic and thoughtful leader who has proven to successfully lead an organization through change and revitalization,” said TransMountain Chairman. One William Down said in a news release.

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Deborah Yedlin, president and CEO of the Calgary Chamber of Commerce, said Farrell would be the first woman to head a pipeline company in Canada, highlighting the importance of a woman leading such a company. Mentioned.

“It’s the best we can see,” she said. I think we’re talking about whether you can aspire to something.

“This is a significant change for the energy sector with women running this company and part of this very important infrastructure.”

File photo: A pipe yard serving Trans Mountain, a government-owned oil pipeline operator, in Kamloops, British Columbia, Canada, June 7, 2021.
File photo: A pipe yard serving Trans Mountain, a government-owned oil pipeline operator, in Kamloops, British Columbia, Canada, June 7, 2021. Reuters/Jennifer Gautier/File Photo

Farrell has extensive experience leading major and complex projects, working on regulatory processes, and has developed strong relationships with federal levels and indigenous groups throughout his career.

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“She took on a very complex problem and succeeded,” says Yedlin. “The hallmark of Dawn is that she has always been solution focused. What is the problem? What is the solution? That’s what she does.”

Kevin Burke, Chief Analyst of Canadian Oil Markets at S&P, said the new CEO’s immediate challenge is to deliver projects on time while keeping budgets under control.

Burke said producers in western Canada need a pipeline that can deliver crude to the tide without going through the United States or relying solely on railroads.

“We can’t take away the volatility and global exposure of Western Canadian producers, but the regional downturn we have seen over the past nearly a decade as Western Canada has struggled to introduce online pipelines to meet growth. We can minimize volatility,” Burke said.

Details of Pharrell’s deal with Trans Mountain have not been released. She earned a total of $7.8 million in compensation from her TransAlta in 2021. This included her $1 million cash bonus, paid out her $6.7 million in her last year with the company.

jaldrich@postmedia.com

twitter: @Joshua Aldrich03

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Trans Mountain Appoints Dawn Farrell as New CEO and President

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