CALGARY, ALBERTA--(Marketwired - Apr 6, 2017) - ATCO Ltd. (TSX:ACO.X)(TSX:ACO.Y) - A correction from source has been issued for the release disseminated April 6 2017 at 7:16 PM ET. The complete and corrected release follows:
Today, ATCO announced the appointment of Dennis DeChamplain to the role of Senior Vice President & Chief Financial Officer, effective June 1, 2017. Mr. DeChamplain will assume the role from Brian Bale, who will be retiring after more than 35 years with the company. Mr. Bale will continue in his role until June 1, working alongside Mr. DeChamplain to ensure a smooth and seamless transition.
Since his appointment to Chief Financial Officer in 2009, Mr. Bale's achievements have been both numerous and remarkable. During his tenure, ATCO's asset base grew from $10 billion in 2009 to $20 billion today. He was the driving force behind the single largest long-dated corporate bond on record in Canada - the issuance of a $1 billion, 4.085 per cent, 30-year bond by CU Inc. - and was instrumental in navigating the $1 billion acquisition of ATCO Gas Australia in 2011.
"Brian's vision, stalwart leadership and unwavering courage have long defined our financial success and enabled ATCO to not simply weather recent economic turmoil, but emerge a more resilient and focused organization," said Nancy Southern, ATCO's President, Chair & Chief Executive Officer. "Brian has served our Share Owners with great distinction, and I know that I speak on behalf of all ATCO constituents when I wish him well in his retirement and welcome Dennis DeChamplain in his role as the corporation's new Chief Financial Officer on June 1."
Mr. DeChamplain joined ATCO in 1992 and has held progressively senior financial, regulatory, and business planning positions throughout the company. Since 2015, he has overseen the financial management of ATCO's Electricity Global Business Unit in the role of Senior Financial Officer, providing exceptional financial leadership and management of the group's diversified global operations in electricity generation, transmission and distribution.
"Dennis has proven himself time and again to be an extraordinarily insightful, dedicated and resourceful leader," said Ms. Southern. "I have the utmost confidence that he will maintain our decades-long track record of enduring financial strength with an unwavering focus on creating value for our Share Owners."
Mr. DeChamplain was born and educated in Edmonton, and graduated from the University of Alberta in 1985 where he obtained a Bachelor of Commerce degree. He obtained his Chartered Accountant designation in 1988 and is a member of both the Alberta and Canadian Chartered Professional Accountants.