Colonial Pipeline CEO Tim Felt to Retire

Colonial Pipeline, the largest refined products pipeline system in the U.S., said on Thursday its chief executive Tim Felt would retire at the end of the month.

 

John Somerhalder will replace Felt as interim CEO effective February 1, the company said.

 

Somerhalder was most recently chairman and CEO of AGL Resources, an Atlanta-based energy services holding company with operations in natural gas distribution, retail operations, wholesale services and midstream operations.

 

"It has been a privilege to lead Colonial Pipeline over the past eight years," Felt said in a statement. "After careful thought and consideration, now is the right time for me to retire."

 

A search for a permanent successor to Tim Felt is under way, Colonial said.


(Reporting by Devika Krishna Kumar in New York)