(Bloomberg) -- Trans Mountain Corp., the government-owned company operating Canada’s newest major oil pipeline, named Chief Financial and Strategy Officer Mark Maki as its next chief executive officer as it prepares for a sale to private owners.
Maki will replace Dawn Farrell, who recently was appointed as Trans Mountain’s board chair, effective Sept. 1, the company said Friday. Chief Operating Officer Michael Davies will also add the role of president at that time.
The leadership change comes as Canada’s government prepares to sell Trans Mountain after a decade-long expansion was completed in May. The project — which twinned an existing pipeline from Alberta’s oil sands to Canada’s Pacific Coast — nearly tripled the capacity of the system to 890,000 barrels a day, opening up new markets for the country’s crude.
The divestiture process has been complicated by political considerations, the government’s push to sell a portion of the enterprise to Indigenous communities and finding a buyer or group of buyers big enough to take on such a large operation.
Maki will oversee finalizing Trans Mountain’s long-term toll rate, optimizing its capital structure, finding growth opportunities, advancing Indigenous economic participation and preparing for the divestment, Trans Mountain said.
Before Trans Mountain, Maki spent 34 years at pipeline operator Enbridge Inc., including serving as president of Enbridge Energy Partners in Houston.
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