Tan­ski, pres­i­dent of Na­tional Fuel, to retire in July

CEO will con­tinue to serve on board as Bauer moves to util­ity’s top spot

The Buffalo News - - BUSINESS - By Keith McShea

A change at the top is com­ing at Na­tional Fuel Gas Co.

Na­tional Fuel an­nounced Wed­nes­day that Pres­i­dent and CEO Ron­ald J. Tan­ski will be step­ping down and will be re­placed by David P. Bauer, a mem­ber of the com­pany’s ex­ec­u­tive team since 2004.

Tan­ski will retire July 1, af­ter more than 40 years of ser­vice. He will con­tinue to serve as a mem­ber of the board of di­rec­tors.

“I am pleased with Na­tional Fuel’s per­for­mance and prospects, and this shift in lead­er­ship is the cul­mi­na­tion of many years of prepa­ra­tion,” Tan­ski said in a state­ment. “I look for­ward to a seam­less tran­si­tion as Dave has been fully en­trenched in and is fa­mil­iar with all as­pects of the Com­pany’s op­er­a­tion and strate­gic di­rec­tion as part of his role as prin­ci­pal financial of­fi­cer since 2010.”

Bauer has served in nu­mer­ous po­si­tions with Na­tional Fuel and its sub­sidiaries. Bauer, as pres­i­dent of Na­tional Fuel Gas Supply Corp. since 2016, has over­seen the com­pany’s pipe­line and stor­age op­er­a­tions and in­ter­state in­fra­struc­ture mod­ern­iza­tion and ex­pan­sion pro­jects. Bauer, a Bos­ton Col­lege grad­u­ate, joined Na­tional Fuel in 2001 af­ter more than 10 years at Price­wa­ter­house­Coop­ers and its pre­de­ces­sor.

“When I joined Na­tional Fuel in the late 1970s, our in­dus­try and cus­tomers were fac­ing record high en­ergy prices, cur­tail­ments of nat­u­ral gas sup­plies, and na­tional re­liance on im­ported nat­u­ral gas and oil,” Tan­ski said. “To­day, we have a do­mes­tic abun­dance of oil and nat­u­ral gas due to ad­vanced shale re­cov­ery tech­nolo­gies. For the first time in nearly 60 years, the U.S. is a Ron­ald Tan­ski, who has been with Nat­u­ral Fuel Gas Co. for over 40 years, will step down as pres­i­dent and CEO on July 1.

net ex­porter of nat­u­ral gas and our util­ity cus­tomers are pay­ing the low­est rates in decades be­cause they are next door to the largest nat­u­ral gas pro­duc­ing re­gion in North Amer­ica.”

“While much has changed, one thing has re­mained con­stant: the ded­i­ca­tion of Na­tional Fuel and its cur­rent 2,100 em­ploy­ees to find­ing, trans­port­ing and de­liv­er­ing much­needed, clean-burn­ing nat­u­ral gas sup­plies safely and reliably to util­ity cus­tomers and oth­ers through­out our re­gional pipe­line net­work,” Tan­ski said. “I will be leav­ing the com­pany in ca­pa­ble hands that are well pre­pared and com­mit­ted to building value for our com­mu­ni­ties and our share­hold­ers.”

Un­der Tan­ski, Na­tional Fuel has moved to ex­pand its pipe­line net­work bring­ing nat­u­ral gas from the Mar­cel­lus and Utica shale re­gions in western and cen­tral Penn­syl­va­nia to mar­kets in New York, Canada and the eastern U.S. The com­pany in the last cou­ple of years also has stepped up its nat­u­ral gas drilling op­er­a­tions in Penn­syl­va­nia af­ter briefly cur­tail­ing those ini­tia­tives be­cause of low nat­u­ral gas prices.

“Na­tional Fuel is in an ex­cel­lent po­si­tion for the fu­ture,” Chair­man David F. Smith said. “Dur­ing his ten­ure as pres­i­dent and CEO, Ron has con­tin­ued our legacy of tremen­dous lead­er­ship, long-term fo­cus, de­lib­er­ate de­ci­sion mak­ing, and financial discipline, re­sult­ing in on­go­ing growth and value for the com­pany and ben­e­fits for share­hold­ers.”

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