CALGARY - TransAlta Corporation (TSX:TA) (NYSE:TAC) announced Thursday that President and Chief Executive Officer John Kousinioris plans to retire effective April 30, 2026, with current Chief Financial Officer Joel Hunter appointed as his successor. The leadership change comes as the power company faces financial challenges, with InvestingPro data showing the company is not profitable over the last twelve months, posting a negative EPS of -$0.41.
The Canadian power generation company said Hunter will assume the CEO role and join the board when Kousinioris steps down. Kousinioris has agreed to serve as a strategic advisor to Hunter and the board for six months following his retirement.
TransAlta indicated it will announce Hunter's replacement as CFO in the coming months.
Kousinioris joined TransAlta in 2012 as Chief Legal and Compliance Officer and held several senior positions before becoming CEO in 2021. He also served as President of TransAlta Renewables from 2017 to 2021.
"John has led TransAlta through a period of significant industry and regulatory transition, simplified TransAlta's organizational structure, and worked to define and deliver our strategic priorities," said John Dielwart, Chair of the Board, in the company's press release.
Hunter brings over 25 years of experience in capital markets, strategic planning and finance to the CEO role.
TransAlta owns and operates power generation assets across Canada, the United States and Australia. The company is one of Canada's largest producers of wind and thermal power and Alberta's largest hydro-electric power provider.
The leadership change comes as the company, which has been in operation for over 114 years, continues to align its corporate goals with sustainability benchmarks, having achieved a 70 percent reduction in greenhouse gas emissions since 2015, according to the company statement.
In other recent news, Cyberscope, the Web3 security division of TAC Security, has completed a security audit of the Official Trump Coin. The audit focused on identifying potential vulnerabilities in the coin's codebase, including reentrancy attacks, access-control failures, price-oracle manipulation, and denial-of-service risks. The methodology used by Cyberscope involved automated code analysis, manual review, and testnet simulations to ensure comprehensive coverage. This development is significant for investors and users of the Official Trump Coin, as it highlights the ongoing efforts to enhance the security and reliability of digital tokens. The completion of this audit may provide some reassurance about the robustness of the coin's infrastructure. However, it is crucial for investors to remain informed about any future updates or findings. Cyberscope's involvement underscores the importance of rigorous security measures in the rapidly evolving digital currency market.
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