UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 17, 2010
TC PipeLines, LP
(Exact name of registrant as specified in its charter)
Delaware |
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000-26091 |
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52-2135448 |
(State or other jurisdiction |
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(Commission File Number) |
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(IRS Employer |
717 Texas Street, Suite #2400 Houston, Texas |
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77002 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code: (877) 290-2772
N/A
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 17, 2010, the Board of Directors of TC PipeLines GP, Inc., the general partner (the General Partner) of TC PipeLines, LP (the Partnership), appointed Steven D. Becker, 60, as President of the General Partner, effective August 17, 2010. Mr. Becker will continue to serve as a member of the General Partners Board of Directors, a position he has held since January 2007. In addition, Mr. Becker was appointed Vice-President, Business Development of the General Partner in September 2003. Mr. Beckers principal occupation is Vice-President, Pipeline Development of TransCanada Corporation (TransCanada), a position he has held since June 2006. From April 2003 to June 2006, he was Vice-President, Gas Development of TransCanada. Prior to April 2003, Mr. Becker was Vice-President, Market Development and Vice-President, Gas Strategy of TransCanada.
Concurrently with Mr. Beckers appointment, Mark A.P. Zimmerman tendered his resignation as President of the General Partner, effective August 17, 2010. Mr. Zimmerman will assume the new role of Vice-President, Corporate Development and Strategy of TransCanada.
Item 7.01. Regulation FD Disclosure.
On August 17, 2010, the Partnership issued a press release announcing Mr. Beckers appointment as President of the General Partner and Mr. Zimmermans concurrent resignation as President of the General Partner. A copy of the press release is furnished herewith as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release dated August 17, 2010
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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TC PipeLines, LP |
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By: TC PipeLines GP, Inc., |
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Its general partner |
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Date: August 17, 2010 |
By: |
/s/ Donald J. DeGrandis |
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Donald J. DeGrandis |
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Secretary |
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Exhibit 99.1
NewsRelease |
Steve Becker Appointed President TC PipeLines GP, Inc.
HOUSTON, Texas August 17, 2010 The Board of Directors of TC PipeLines GP, Inc., general partner of TC PipeLines, LP (NASDAQ: TCLP) today announced the appointment of Steve Becker to the position of President of TC PipeLines GP, Inc. (the General Partner). Becker succeeds Mark Zimmerman who will transition into the new role of Vice President, Corporate Development and Strategy with TransCanada Corporation, the Partnerships sponsor.
On behalf of all Board members its been a pleasure to work with Mark over the years, says Greg Lohnes, Chairman of the Board of Directors. He was instrumental in growing the business and creating enduring value for unitholders through initiatives such as the acquisition of North Baja and the restructuring of the sponsors incentive distribution rights. We wish him all the best in his new role with TransCanada. Going forward, we are very confident in our choice of Steve Becker as Marks successor and look forward to the future of TC PipeLines, LP under his leadership.
Becker has served as a director of the General Partner since January 2007 and has most recently held the position of Vice President, Pipeline Development for TransCanada Corporation. He has over 30 years of experience, and since joining TransCanada in 1990, has held positions in finance, natural gas marketing, strategy and business development. Becker holds a Bachelor of Commerce degree (with distinction) from the University of Calgary and a Master of Business Administration from the University of Western Ontario.
TC PipeLines, LP has interests in approximately 3,700 miles of federally regulated U.S. interstate natural gas pipelines, including Great Lakes Gas Transmission Limited Partnership (46.45 per cent ownership), Northern Border Pipeline Company (50 per cent ownership), North Baja Pipeline, LLC (100 per cent ownership) and Tuscarora Gas Transmission Company (100 per cent ownership). Great Lakes is a 2,115-mile natural gas pipeline system serving markets in Minnesota, Wisconsin, Michigan and eastern Canada. The 1,249-mile Northern Border Pipeline transports natural gas from the Montana-Saskatchewan border to markets in the midwestern United States. North Baja is an 80-mile bi-directional pipeline system that transports natural gas between southwestern Arizona and a point on the California/Mexico border where it connects with a natural gas pipeline system in Mexico. Tuscarora is a 240-mile pipeline system that transports natural gas from Oregon, where it interconnects TransCanada Corporations Gas
Transmission Northwest System, to markets in Oregon, California, and Nevada. TC PipeLines, LP is managed by its general partner, TC PipeLines GP, Inc., an indirect wholly-owned subsidiary of TransCanada Corporation. TC PipeLines GP, Inc. also holds common units of TC PipeLines, LP. Common units of TC PipeLines, LP are quoted on the NASDAQ Global Select Market and trade under the symbol TCLP. For more information about TC PipeLines, LP, visit the Partnerships website at www.tcpipelineslp.com.
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Media Inquiries: |
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Cecily Dobson/Terry Cunha |
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403.920.7859 |
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800.608.7859 |
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Unitholder and Analyst Inquiries: |
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Terry Hook |
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877.290.2772 |
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investor_relations@tcpipelineslp.com |