The CEO of Pembina Pipeline Corp. (PPL:TSX), Canada’s largest midstream natural gas processor, has announced he will be stepping down on 5 September to pursue other opportunities.
“I have always said that I would step down if I felt that I was no longer capable of doing the job to the extent necessary to deliver the results that we had promised and to execute on our strategy,” Dilger said.
Pembina’s Chief Operating Officer Carl Eliopoulos will take over as CEO of the company on 11 September, a spokesperson for the Calgary-based company said.
The company’s stock market value was $4.8 billion at the end of trading on Friday, according to Bloomberg.
Dilger joined Pembina in 1998 as vice president of exploration and production and was promoted to President in 2000. He took over as CEO in 2013. Pembina says he has managed Pembina to drive growth and diversification of operations by providing an upstream oil and gas services-driven midstream logistics business.