Progress Energy, the Canadian unit of Petronas informed that Michael Culbert will step down from his position as president and CEO of the company effective October 31, 2016, as he begins to transition into retirement.
Culbert will continue to serve as a director on the boards of both Progress Energy and PNW LNG, and has been appointed to the non-executive position of vice chairman for Progress Energy, the statement issued on Monday reads.
He will continue to provide strategic counsel to the two companies.
Following Culbert’s resignation, Mark Fitzgerald has been named president and CEO of Progress Energy, effective November 1, 2016, and he will also serve as a member of the company’s board.
He has spent his career in the Canadian energy sector including positioning Progress Energy to supply natural gas to the proposed Pacific NorthWest LNG facility.