By October 31, 2017 0 Comments Read More →

Cenovus appoints former TransCanada COO as new President & CEO

Cenovus CEO

Former Cenovus CEO Brian Ferguson 

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Cenovus Energy Inc. announced the appointment of Alex Pourbaix as President & Chief Executive Officer and member of the Board of Directors, according to a press release.

Pourbaix will start the role on Nov. 6. He replaces Brian Ferguson, who earlier this year that he is retiring from that position after 33 years with Cenovus. Ferguson’s last day as President & Chief Executive Officer will be November 2.

“On behalf of the Board, I am pleased to welcome Alex to the Cenovus team. He has an impressive track record of value creation and a reputation as an outstanding leader who inspires and empowers teams to succeed while demanding accountability and results,” said Patrick Daniel, Cenovus Board Chair.

“We also want to thank Brian for the commitment and leadership he’s shown in building Cenovus and laying the foundation for a strong future. We wish him well in his retirement.”

Pourbaix spent the past 27 years in a variety of leadership roles with TransCanada Corporation and its affiliates until he retired from that company in May of this year.

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In his most recent role as Chief Operating Officer, he was responsible for the profitability and growth of TransCanada’s commercial businesses – including leadership of major commercial initiatives such as the development of the company’s power and oil pipeline businesses and responsibility for all of the company’s operations, development and construction activities.

“I’m excited to be joining Cenovus. Given the quality of its assets and people, I believe there is an excellent opportunity to create significant value and realize the full potential of this great Canadian company,” said Pourbaix.

“I look forward to working with the Cenovus team to deliver on the near-term commitment to reduce debt while continuing to focus on maximizing the value of the oil sands and Deep Basin assets, with the goal of increasing shareholder returns,” said Pourbaix.

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