10:35 AM EDT, 04/03/2024 (MT Newswires) -- TC Energy Corp. ( TRP ) said Wednesday that Joel Hunter will step down as executive vice president and chief financial officer of the company to pursue another opportunity in the energy sector.

The board has tapped Sean O'Donnell to serve as its new executive vice president and CFO, effective May 15.

Hunter will remain with the company until July 1 to support the company's 2024 strategic priorities, including the intended spinoff of South Bow, and to ensure a smooth transition.

O'Donnell is currently serving as senior vice president of capital markets and corporate planning.

Meanwhile, National Bank said Wednesday while the change was unexpected, it does not expect the leadership change to impact the company's strategy or top priorities.

"While the change in CFO leadership is unexpected, we do not expect any immediate shift in the company's strategy or top priorities, including deleveraging the balance sheet with another near $2-3 billion of asset sales to be executed in 2024 (NBF: $4-5 billion) along with the spinoff of South Bow Corporation in H2 2024, together achieving its stated D/EBITDA target of 4.75x by year end," the analysts said.

National Bank has an outperform rating on the company and a C$58 price target.

The company's shares slipped near 0.8% on last look on Wednesday.

Price: 53.91, Change: -0.39, Percent Change: -0.72