10:45 AM EDT, 04/11/2024 (MT Newswires) -- TransAlta Corp. ( TAC ) said Thursday that Todd Stack will retire as executive vice-president of finance and chief financial officer of the company, effective June 30.

The company's board has tapped Joel Hunter to serve as executive vice president of finance and CFO, effective July 1. Hunter is currently serving as executive vice president and CFO at TC Energy ( TRP ) .

TC Energy ( TRP ) for its part last week appointed Sean O'Donnell, currently Senior Vice-President, Capital Markets and Corporate Planning, to succeed Hunter.

Meanwhile, National Bank is wondering if Hunter's appointment could provide the company with a "fresh set of eyes on capital structure and capital allocation strategy."

The hiring comes as the company looks for "greener pastures" outside Alberta, namely the US regions in need of incremental dispatchable generation alongside more renewables, the bank noted.

"We will also keep an eye on the company's pending near $658 mln Heartland Generation acquisition with closing expected in Q2-24, albeit likely under review at this point given the adverse changes caused by the Restructured Energy Market," the analysts added.

National Bank has an outperform rating and a price target of C$13.

TransAlta ( TAC ), which fell 1.9% in Canada yesterday, slipped 1% on last look on Thursday.

Price: 8.32, Change: -0.08, Percent Change: -0.95