Plains Announces Retirement of President Harry Pefanis and Assignment Updates to Board of Directors
Plains All American Pipeline (PAA) announced significant leadership changes effective June 1, 2025. Harry Pefanis will retire as President after serving the company for over 27 years since co-founding it. Current Chairman and CEO Willie Chiang will assume the additional role of President.
Pefanis, who has been with the organization for more than four decades, including time before its 1998 IPO, will continue serving on the Board of Directors and transition to a Senior Advisor role. Under his leadership, Plains evolved into a modern energy transportation company, focusing on customer service, operational excellence, and financial strength.
The company also announced Board changes effective June 1, 2025: John Raymond will succeed Bobby Shackouls as Lead Director and Chair of the Governance Committee, while Shackouls will take over Raymond's position as Chair of the Compensation Committee. Both will remain members of their previous committees to ensure a smooth transition.
Plains All American Pipeline (PAA) ha annunciato significativi cambiamenti nella leadership a partire dal 1 giugno 2025. Harry Pefanis andrà in pensione come Presidente dopo aver servito l'azienda per oltre 27 anni dalla sua fondazione. L'attuale Presidente e CEO Willie Chiang assumerà anche il ruolo di Presidente.
Pefanis, che è stato con l'organizzazione per più di quattro decenni, inclusi i periodi precedenti all'IPO del 1998, continuerà a far parte del Consiglio di Amministrazione e passerà a un ruolo di Consulente Senior. Sotto la sua guida, Plains si è evoluta in una moderna azienda di trasporto energetico, focalizzandosi sul servizio clienti, sull'eccellenza operativa e sulla solidità finanziaria.
L'azienda ha anche annunciato cambiamenti nel Consiglio a partire dal 1 giugno 2025: John Raymond succederà a Bobby Shackouls come Direttore Principale e Presidente del Comitato di Governance, mentre Shackouls assumerà la posizione di Raymond come Presidente del Comitato per la Compensazione. Entrambi rimarranno membri dei loro precedenti comitati per garantire una transizione fluida.
Plains All American Pipeline (PAA) anunció cambios significativos en el liderazgo que entrarán en vigor el 1 de junio de 2025. Harry Pefanis se retirará como Presidente después de haber servido a la empresa durante más de 27 años desde su cofundación. El actual Presidente y CEO Willie Chiang asumirá el rol adicional de Presidente.
Pefanis, que ha estado en la organización durante más de cuatro décadas, incluido el tiempo antes de su salida a bolsa en 1998, continuará formando parte de la Junta Directiva y pasará a un rol de Asesor Senior. Bajo su liderazgo, Plains evolucionó hacia una moderna empresa de transporte de energía, enfocándose en el servicio al cliente, la excelencia operativa y la solidez financiera.
La empresa también anunció cambios en la Junta que entrarán en vigor el 1 de junio de 2025: John Raymond sucederá a Bobby Shackouls como Director Principal y Presidente del Comité de Gobernanza, mientras que Shackouls asumirá la posición de Raymond como Presidente del Comité de Compensación. Ambos seguirán siendo miembros de sus comités anteriores para asegurar una transición fluida.
Plains All American Pipeline (PAA)는 2025년 6월 1일부터 시행되는 중요한 리더십 변화를 발표했습니다. 해리 페파니스는 공동 창립 이후 27년 이상 회사를 위해 일한 후 사장직에서 은퇴합니다. 현재 의장 및 CEO인 윌리 치앙은 추가로 사장직을 맡게 됩니다.
페파니스는 1998년 IPO 이전의 시간도 포함해 40년 이상 조직에 몸담아 왔으며, 이사회에서 계속 활동하고 수석 고문 역할로 전환할 것입니다. 그의 리더십 아래, Plains는 고객 서비스, 운영 우수성 및 재정적 강점을 중시하는 현대 에너지 운송 회사로 발전했습니다.
회사는 또한 2025년 6월 1일부터 시행되는 이사회 변화를 발표했습니다: 존 레이먼드는 보비 샤쿠울스를 이사장 및 거버넌스 위원회 의장직으로 대체하며, 샤쿠울스는 레이먼드의 보상 위원회 의장직을 맡게 됩니다. 두 사람은 원활한 전환을 보장하기 위해 이전 위원회의 구성원으로 남을 것입니다.
Plains All American Pipeline (PAA) a annoncé des changements significatifs dans sa direction, effectifs à partir du 1er juin 2025. Harry Pefanis prendra sa retraite en tant que Président après avoir servi l'entreprise pendant plus de 27 ans depuis sa cofondation. L'actuel Président et CEO Willie Chiang assumera le rôle supplémentaire de Président.
Pefanis, qui est avec l'organisation depuis plus de quatre décennies, y compris avant son introduction en bourse en 1998, continuera à siéger au Conseil d'Administration et passera à un rôle de Conseiller Senior. Sous sa direction, Plains est devenue une entreprise moderne de transport d'énergie, axée sur le service client, l'excellence opérationnelle et la solidité financière.
L'entreprise a également annoncé des changements au sein du Conseil, effectifs le 1er juin 2025 : John Raymond succédera à Bobby Shackouls en tant que Directeur Principal et Président du Comité de Gouvernance, tandis que Shackouls prendra la position de Raymond en tant que Président du Comité de Rémunération. Les deux resteront membres de leurs comités précédents pour garantir une transition en douceur.
Plains All American Pipeline (PAA) gab bedeutende Veränderungen in der Führung bekannt, die am 1. Juni 2025 wirksam werden. Harry Pefanis wird nach über 27 Jahren, seit er das Unternehmen mitbegründet hat, als Präsident in den Ruhestand gehen. Der aktuelle Vorsitzende und CEO Willie Chiang wird zusätzlich die Rolle des Präsidenten übernehmen.
Pefanis, der mehr als vier Jahrzehnte in der Organisation tätig war, einschließlich der Zeit vor dem Börsengang 1998, wird weiterhin im Vorstand tätig sein und in eine Rolle als Senior Advisor wechseln. Unter seiner Führung hat sich Plains zu einem modernen Unternehmen für Energietransport entwickelt, das sich auf Kundenservice, operative Exzellenz und finanzielle Stärke konzentriert.
Das Unternehmen gab auch Änderungen im Vorstand bekannt, die am 1. Juni 2025 in Kraft treten: John Raymond wird Bobby Shackouls als Lead Director und Vorsitzender des Governance-Ausschusses nachfolgen, während Shackouls Raymonds Position als Vorsitzender des Vergütungsausschusses übernehmen wird. Beide werden weiterhin Mitglieder ihrer vorherigen Ausschüsse bleiben, um einen reibungslosen Übergang zu gewährleisten.
- Smooth leadership transition with current CEO assuming President role
- Retiring President remains involved as Board member and Senior Advisor
- Structured Board succession plan ensures continuity
- Loss of experienced co-founder from executive management
- Concentration of power with CEO assuming additional President role
HOUSTON, March 26, 2025 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) announced today that Harry Pefanis will retire as President of Plains effective June 1, 2025. Willie Chiang, Chairman of the Board and CEO, will assume the role of President effective upon the retirement of Mr. Pefanis. In addition, Plains announced updates to the lead director position and certain committee assignments for its Board of Directors that will also be effective June 1, 2025.
In line with Plains’ long-term succession plan, Mr. Pefanis will retire as President after 27+ years of service to the company he co-founded. Including his time with Plains prior to its initial public offering in 1998, Mr. Pefanis has been with the organization for over four decades. Mr. Pefanis will continue to serve on the Board of Directors and as a Senior Advisor to Plains.
“Harry is a world class energy executive who played a key role in the founding of the Company almost three decades ago, and who has been instrumental to the growth of Plains into the modern energy transportation company it is today. His time at Plains has been marked by a relentless focus on customer service, developing lasting relationships, operational excellence, and financial strength, together with an unwavering commitment to integrity, accountability and teamwork,” said Willie Chiang. “Harry lives our core values every day and has been an exceptional role model for our employees and an outstanding representative for our company and our industry. I want to thank him for his many contributions and I am very pleased that we will continue to benefit from his knowledge, experience and insights through his continued service as a Director and his new role as a Senior Advisor.”
“It has been an incredible experience to be part of Plains during such a dynamic period. I have had the privilege of working with exceptionally talented teammates that have always been committed to developing lasting relationships, delivering value, driving results, and meeting the needs of our customers and stakeholders. I strongly believe that we will continue to see growth in crude oil production and that Plains is better positioned than ever to capitalize on the growing demand for our integrated asset base,” said Harry Pefanis.
As part of the Board’s ongoing succession planning process, Plains also announced the following changes to its Board of Directors effective June 1, 2025. Bobby Shackouls will be succeeded in his roles as Lead Director and Chair of the Governance Committee by John Raymond. Mr. Shackouls will succeed Mr. Raymond as Chair of the Compensation Committee. In order to ensure continuity and a smooth transition, Mr. Raymond will remain a member of the Compensation Committee and Mr. Shackouls will remain a member of the Governance Committee.
About Plains
PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil and natural gas liquids (NGL). PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, processing, fractionation and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada. On average, PAA handles approximately eight million barrels per day of crude oil and NGL.
PAGP is a publicly traded entity that owns an indirect, non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America.
PAA and PAGP are headquartered in Houston, Texas. More information is available at www.plains.com.
Investor Relations Contacts:
Blake Fernandez
Michael Gladstein
PlainsIR@plains.com
(866) 809-1291
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