CALGARY, ALABERTA–(Marketwired – Sept. 30, 2015) – Veresen Inc. (“Veresen” or the “Company”) (TSX:VSN) announced today that Mr. Tim Stauft, President and Chief Executive Officer (“CEO”) of Aux Sable, has resigned effective immediately. The board of directors of Aux Sable has appointed Mr. Tom Day, to serve as President and CEO. Tom Day has served as Veresen’s Senior Vice President, Operations since September 2013.
“On behalf of the Board of Directors of Aux Sable, I would like to thank Tim for his contributions to Aux Sable over the years and wish him well in his future endeavours,” commented Don Althoff, President and CEO of Veresen.
The privately held Aux Sable Companies are comprised of, Aux Sable Canada (owned 50% indirectly by Enbridge Inc. and 50% indirectly by Veresen, as well as Aux Sable Midstream and Aux Sable Liquids Products (each owned 42.7% indirectly by Enbridge Inc., 42.7% indirectly by Veresen and 14.6% indirectly by Williams Partners).
About Veresen Inc.
Veresen is a publicly-traded dividend paying corporation based in Calgary, Alberta that owns and operates energy infrastructure assets across North America. Veresen is engaged in three principal businesses: a pipeline transportation business comprised of interests in the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System; a midstream business which includes a partnership interest in Veresen Midstream Limited Partnership which owns assets in western Canada, an ownership interest in Aux Sable, a world-class natural gas liquids (NGL) extraction facility near Chicago, and other natural gas and NGL processing energy infrastructure; and a power business comprised of a portfolio of assets in Canada. Veresen is also developing Jordan Cove LNG, a six million tonne per annum natural gas liquefaction facility proposed to be constructed in Coos Bay, Oregon, and the associated Pacific Connector Gas Pipeline. In the normal course of business, Veresen regularly evaluates and pursues acquisition and development opportunities.
Veresen’s Common Shares and Cumulative Redeemable Preferred Shares, Series A, Series C and Series E trade on the Toronto Stock Exchange under the symbols “VSN”, “VSN.PR.A”, “VSN.PR.C” and “VSN.PR.E”, respectively. For further information, please visit www.vereseninc.com.
Director, Investor Relations