Calgary, 22 March (Argus) — TransCanada, the pipeline giant behind the controversial Keystone XL crude system – announced late today that Paul Joskow has retired from the company's board of directors, effective immediately.
The 65-year-old native of New York had been a TransCanada director since 2004, serving most recently on the board's audit and governance committees. Joskow is a professor of economics, emeritus, at Boston's Massachusetts Institute of Technology (MIT).
Joskow is also on the board of Exelon, a company that TransCanada is beginning to compete with in some isolated markets for electricity in the Northeastern US.
“Dr. Joskow thought it would be best to end a situation that might otherwise raise potential conflicts of interest,” a TransCanada spokesman said.
“TransCanada was very fortunate to experience the wisdom of Paul's counsel and his expertise in the areas of economics and energy,” chief executive Russ Girling said today. “Paul leaves the TransCanada board with our sincere thanks and best wishes, both personally and in his corporate and philanthropic endeavors.”
TransCanada, which is active in the petroleum transportation markets and is Canada's largest natural gas pipeline operator, has 12 members on its board. The Calgary-based company will begin a process to replace Joskow.
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