People

ARC Resources Shuffles Management Team; Adds to Board

Share Print Bookmark    |    Wednesday,November 13,2013

ARC Resources Ltd. has reported several changes to its leadership team.

Chief Financial Officer Retirement and Succession

Mr. Steve Sinclair, Senior Vice President and Chief Financial Officer, has announced he will be retiring in 2014. Mr. Sinclair joined ARC in 1996 as Vice President, Finance and has held the position of Chief Financial Officer since 2000.  Over the past 17 years he has guided ARC's financial strategy, developed a first class accounting and treasury team, and executed through varying market conditions - forging ARC's trademark financial stability and prudence. Mr. Sinclair has been instrumental to ARC's success and as CFO, he has been responsible for the overall financial functions of the company including raising of both debt and equity financings as the company has grown from initial public offering value of $220 million to approximately $9.8 billion today while paying out over$4.8 billion in dividends to ARC's shareholders.

ARC is pleased to announce the appointment of Mr. Van Dafoe to the position of Senior Vice President and Chief Financial Officer, to take place late in the first quarter of 2014.  Mr. Sinclair will continue on in an advisory role until his retirement in the later part of 2014. Mr. Dafoe is currently the Senior Vice President, Finance, a position he has held since June 2011. First joining ARC in 1999 as Controller, Mr. Dafoe has taken on increasingly senior positions and has a proven track record as a strong and insightful leader. Working under Mr. Sinclair's mentorship, he has overseen ARC's financial strategy and execution with direct responsibility for all finance, marketing, taxation and risk management activities.  Mr. Dafoe has a Bachelor of Commerce degree (honors) from the University of Manitoba and is a Certified Management Accountant with over 25 years of industry experience.  This CFO succession process has been deliberately planned over the past few years.

Corporate Secretary Retirement and Succession

Mr. Allan Twa, Corporate Secretary, has announced his retirement effective December 31, 2013.  Mr. Twa is a partner at Burnet, Duckworth & Palmer LLP, and has served as ARC's Corporate Secretary since inception of the company in 1996. Mr. Twa has been a tremendous asset to ARC throughout his 17 year tenure contributing to the establishment of a strong corporate governance program and navigating the changing regulatory environment though ARC's history as both a royalty trust and a corporation.

Upon Mr. Twa's retirement, Mr. Grant Zawalsky will be appointed to the role of Corporate Secretary. Mr. Zawalsky is a partner at Burnet, Duckworth & Palmer LLP, and has over 30 years of experience in securities and corporate law including debt offerings, mergers and acquisitions, corporate governance and regulatory compliance. He has a Bachelor of Commerce degree and an LL.B from the University of Alberta. Mr. Zawalsky has extensive experience as Corporate Secretary at small to mid-cap companies in the energy industry. He is currently a Director for a number of public and private energy companies including, Nuvista Energy, Whitecap Resources and Zargon Energy.

Board Appointment

Additionally, ARC has reported the appointment of Mr. William Sembo to ARC's Board of Directors. 

Mr. Sembo recently retired from his role as Vice Chairman at RBC Capital Markets. With approximately 40 years of industry experience, Mr. Sembo has spent the majority of his career in energy investment banking. He has expertise in investment banking, corporate credit and mergers and acquisitions. Prior to joining a predecessor firm of RBC Capital Markets in 1986, Mr. Sembo held Corporate Finance and Financial Planning positions with the Toronto-Dominion Bank and Asamera Inc., respectively.  Mr. Sembo has a Bachelor of Arts in Economics from the University of Calgary.  He brings extensive capital markets expertise as well as a broad base of corporate governance experience to ARC, having served as a director for both private and public boards as well as numerous not-for-profit organizations.

Mr. Sembo currently serves as a director for two privately owned enterprises, OMERS Energy Services and CEDA International.