Leadership Changes at Plains: New Era Begins for Company
Changes in Leadership at Plains All American Pipeline
HOUSTON - Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings have announced significant leadership transitions as Harry Pefanis steps down from his role as President, effective June 1, 2025. Willie Chiang, who is currently the Chairman of the Board and CEO, will take over the President's responsibilities upon Pefanis' retirement.
Harry Pefanis: A Legacy of Leadership
With over 27 years dedicated to Plains, Harry Pefanis leaves behind a remarkable legacy. His journey with the company began long before its public offering in 1998, showcasing more than four decades of commitment and expertise in the energy sector. After retiring, Pefanis intends to remain involved with the company as a member of the Board of Directors and in a Senior Advisor capacity.
Tributes to Pefanis' Contributions
Willie Chiang praised Pefanis’ invaluable contributions to the growth of Plains. He stated that Pefanis brought a relentless focus on customer service, operational excellence, and financial strength that has helped steer the company toward becoming a leader in energy transportation. His dedication to fostering teamwork and integrity has set a standard for employees and has significantly impacted the entire industry.
Reflection on the Experience
Pefanis expressed gratitude for his time at Plains, emphasizing the strong relationships he built with his talented colleagues. He believes the company is well-positioned for future growth, especially in light of increasing crude oil production and the demand for integrated energy services.
Board of Directors: Strategic Updates
In conjunction with Pefanis’ retirement, Plains is also implementing some key changes within its Board of Directors. Starting June 1, 2025, Bobby Shackouls will transition from Lead Director and Chair of the Governance Committee to be succeeded by John Raymond. Additionally, Shackouls will assume leadership of the Compensation Committee, ensuring continuity during this transition period, as both individuals continue to serve on their respective committees.
About Plains
Plains All American (PAA) operates as a publicly traded master limited partnership specializing in midstream energy infrastructure and logistics services for crude oil and natural gas liquids (NGL). The company manages a vast network of pipeline systems and storage facilities, handling an average of eight million barrels per day across North America.
Expanding Capabilities for the Future
PAA is positioned at the forefront of energy logistics, serving key market hubs and facilitating export needs. The organization continues to enhance its systems to support growing demand, and its strategic expansions showcase its commitment to remaining a vital player in the energy sector.
Investor Relations Contacts
For further inquiries and information, interested parties may contact:
Blake Fernandez
Michael Gladstein
Email: PlainsIR@plains.com
(866) 809-1291
Frequently Asked Questions
What are the key leadership changes at Plains?
Harry Pefanis is retiring as President, with Willie Chiang set to assume his responsibilities. Changes to the Board of Directors are also in place.
How long has Harry Pefanis been with Plains?
Pefanis has been a part of the company for over 27 years, and his overall experience spans more than 40 years in the energy sector.
What will Pefanis' role be after retirement?
After retiring, Pefanis will remain on the Board of Directors and will take on a role as Senior Advisor to the company.
What recent changes to the Board of Directors were announced?
John Raymond will succeed Bobby Shackouls as Lead Director, and Shackouls will take over as Chair of the Compensation Committee.
What type of services does Plains provide?
PAA provides midstream energy infrastructure, handling logistics for crude oil and natural gas liquids across a vast network of pipeline systems in North America.
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