Stephen White to retire as Veresen President and CEO - Don Althoff to succeed

Stephen White to retire as Veresen President and CEO - Don Althoff to succeed 
CALGARY, Oct. 24, 2012 /CNW/ - Veresen Inc. ("Veresen") (TSX: VSN) today 
announced thatStephen White, President and Chief Executive Officer has 
decided to retire, effective upon the appointment of his replacement, Don 
Althoff. Mr. White will remain on the Board of Directors of Alliance Pipeline 
and Aux Sable, but will be leaving the Board of Directors of Veresen. 
"On behalf of my fellow directors I would like to recognize Stephen for his 
valuable contributions to Veresen - and his service to its employees and 
shareholders during his 15 years with the company, including the past 10 years 
as President and Chief Executive Officer," said Steve Mulherin, Chair of 
Veresen's Board of Directors. "Under Stephen's leadership we have experienced 
significant growth and success, and he has positioned Veresen for a strong 
future. The Board respects Stephen's decision to retire - he has earned our 
utmost respect and appreciation for all of his accomplishments at Veresen." 
In 1997, as President and Chief Financial Officer, Mr. White was instrumental 
in co-creating Fort Chicago Energy Partners L.P, the predecessor to Veresen 
Inc. In late 2002, he was appointed Chief Executive Officer of the company. 
Over the past 15 years, Veresen has grown from a market capitalization of $380 
million to $2.6 billion today, and an investment of $5.95 per share at the 
company's initial public offering price, assuming reinvestment of dividends, 
would be worth $34.60 per share today. Since its inception, Veresen has 
generated an average compounded annual total return of 12.7% and has made $1.3 
billion in dividend payments to investors. 
"I've been fortunate to work with some exceptional people during my time 
here," said Mr. White. "My thanks go to the Board of Directors for their wise 
counsel and support, and the entire Veresen team for their hard work and 
dedication in building an organization focused on creating long-term value for 
our shareholders. We have a committed and talented team of employees who are 
building a leading energy infrastructure company. Everything Veresen has 
achieved - and will continue to achieve as I turn over the reins - is due to 
the collective efforts of this team. I'm proud of what we've accomplished 
together and Veresen's future rests in very capable hands." 
Veresen's Board of Directors also announced the appointment of Don Althoff as 
President and Chief Executive Officer and a Director of Veresen - each 
appointment to be effective once appropriate approvals from Human Resources 
Skills Development Canada and Citizenship and Immigration Canada have been 
"We are pleased to welcome Don as our new President and Chief Executive 
Officer," said Mr. Mulherin. "He is a proven leader of large energy businesses 
with a deep knowledge of the fuels supply chain marketplace. Don brings 
experience and a passion for leading sustainable, high-performing 
organizations. Critical in the delivery of his accomplishments is Don's 
ability to harness a powerful vision, strategy and operating plan that 
optimizes the business across its entire supply chain. The Board is confident 
Don will bring the necessary expertise and vision to capitalize on current 
strengths to create long-term value for our shareholders." 
Mr. Althoff has had an extensive career in the energy industry, most recently 
as Chief Executive Officer of Flex Fuel US, a company based in Chicago, 
Illinois. Prior to 2008, he was with BP P.L.C. and Amoco Corporation for 27 
years. Mr. Althoff's experience includes leading a fuels retail and supply 
chain operation with US$8 billion in annual revenue and US$65 billion in 
capital employed. Mr. Althoff held P&L accountability for an operation with 
6,000 employees, 7,000 retail outlets, 40 product terminals and 4,800 
kilometres of pipeline. He also has extensive operations experience at two 
world-scale refineries. 
"I'm pleased to be joining Veresen and look forward to building on the 
remarkable track record that Stephen and the team have created," said Mr. 
Althoff. "We're entering an exciting era for the company and we will continue 
to advance our strategy of high-quality, accretive growth. In addition to a 
strong portfolio of low-risk, contracted assets within each of our business 
segments, we have several excellent projects in construction or under 
development that offer near-term growth. I'm confident that we possess the 
expertise and drive necessary to ensure our success moving forward." 
About Veresen Inc. 
Veresen is a publicly-traded dividend paying corporation based in Calgary, 
Alberta, that owns and operates energy infrastructure assets across North 
America. Veresen is engaged in three principal businesses: a pipeline 
transportation business comprised of interests in two pipeline systems, the 
Alliance Pipeline and the Alberta Ethane Gathering System; a midstream 
business which includes ownership interests in a world-class natural gas 
liquids extraction facility near Chicago, the Hythe/Steeprock gas gathering 
and processing complex, and other natural gas and NGL processing energy 
infrastructure; and a power business with renewable and gas-fired facilities 
and development projects in Canada and the United States, and district energy 
systems in Ontario and Prince Edward Island. Veresen and each of its pipeline, 
midstream and power businesses are also actively developing a number of 
greenfield projects. In the normal course of its business, Veresen and each 
of its businesses regularly evaluate and pursue acquisition and development 
Veresen's common shares, Series A preferred shares, and 5.75% convertible 
unsecured subordinated debentures, Series C due July 31, 2017 are listed on 
the Toronto Stock Exchange under the symbols "VSN", "VSN.PR.A" and VSN.DB.C", 
respectively. For further information, please 
Note to Analysts and Editors 
A conference call and webcast will be held today at 10:00 am MT / 12:00 pm ET
A question and answer period will follow brief remarks from Steve Mulherin, 
Stephen White and Don Althoff. 
The conference will be broadcast via teleconference.
To listen to the news conference:
Dial-in: 1 (888) 231-8191 or 1 (647) 427-7450 Conference ID 55355345 
The link to the conference call webcast is: 
A replay of the call will be available at approximately 12:00 pm MT (2:00 pm 
ET) on October 24, 2012 by dialing 1-855-859-2056 and 1-416-849-0833. The 
access code is 55355345, followed by the pound sign. The replay will expire at 
midnight (ET) on October 31, 2012. 
Dorreen Miller, Director Investor Relations Phone: (403) 213-3633 
SOURCE: Veresen Inc. 
To view this news release in HTML formatting, please use the following URL: 
CO: Veresen Inc.
ST: Alberta
NI: OIL 2575 WNEWS  
-0- Oct/24/2012 13:00 GMT
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