Keystone Champion Named CEO at Oil-Sands Giant Cenovus
- Executive spent 27 years at TransCanada, most recently as COO
- Cenovus shares have slumped since deal for Conoco assets
Alex Pourbaix
Photographer: Aaron M. Sprecher/BloombergThis article is for subscribers only.
Alex Pourbaix, a driving force behind TransCanada Corp.’s Keystone XL pipeline, has been named chief executive officer at Cenovus Energy Inc., taking the reins as the company seeks to rebuild investor confidence following its $13.3 billion oil-sands buy earlier this year.
Pourbaix, 52, replaces Brian Ferguson, who said earlier this year he planned to step down. Pourbaix spent 27 years at Calgary-based TransCanada, most recently as chief operating officer. He’ll take over the new role on Nov. 6 and join the board, according to a statement Monday.