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Colonial Pipeline CEO Felt to retire, AGL executive named interim boss

(Reuters) - Colonial Pipeline Co [COLPI.UL], the largest refined products pipeline system in the United States, said on Thursday that Chief Executive Officer Tim Felt will retire at the end of the month.

The pipeline has been in the spotlight lately after a host of problems on its gasoline line, including a fatal explosion late in October. The blast led to a near week-long shutdown of the line, the second in two months.

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.

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Felt, 62, was president and CEO of Tulsa-based Explorer Pipeline for nine years before he joined Colonial in 2009.

A search for a permanent CEO is underway, Colonial said.

Colonial is a 5,500-mile interstate pipeline that transports gasoline, kerosene, home heating oil, diesel and national defense fuels from refineries along the Gulf Coast to markets throughout the South and East Coast.

Earlier this month, the company shut a stub line that ships gasoline between Atlanta and Nashville, Tennessee, after a small leak in Chattanooga.

(Reporting by Devika Krishna Kumar in New York; Editing by Jeffrey Benkoe)

 
 
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