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Plains All American CEO Armstrong to retire at year-end 2018

  • Plains All American Pipeline (NASDAQ:PAA, PAGP) says CEO Greg Armstrong plans to retire at the end of 2018, to be succeeded by current Executive VP and COO Willie Chiang; Armstrong will continue as non-executive Chairman through year-end 2019, when he will retire from the board.
  • Armstrong has worked for PAA and its predecessor companies since 1981, including the last 25 years as CEO.
  • Chiang has served as PAA's Executive VP and COO since joining the company in August from Occidental Petroleum, where he was Executive VP of operations during 2012-15; he had served in various positions at ConocoPhillips during 1996- 2012.
  • PAA -1% after-hours as Q3 earnings and revenues came in below analyst expectations.

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