Canada's TC Energy says insider Poirier to take over as CEO

FILE PHOTO: TC Energy CEO Russ Girling delivers a statement on the construction of the long-delayed 8 billion dollars Keystone XL crude oil pipeline project, in Calgary, Alberta, Canada March 31, 2020. REUTERS/Todd Korol

(Reuters) - Canadian pipeline operator TC Energy Corp said on Monday Chief Operating Officer François Poirier will take over as its president and chief executive officer after current boss Russ Girling retires at the end of this year.

Girling, who has headed the company since July 2010, has been witness to the roadblocks faced by its decade-old Keystone Pipeline project, which has been delayed by opposition from landowners, environmental groups and tribes.

In July, the U.S. Supreme Court reinforced a lower court ruling that blocked a key environmental permit, blocking substantial U.S. construction at the pipeline.

Poirier, who is also president of the company’s power & storage and Mexico units, will join the board on Jan.1, 2021.

Shares of the company are down more than 12% so far this year.

Reporting by Shruti Sonal in Bengaluru; Editing by Ramakrishnan M.