Canadian Association of Petroleum Producers head says he will be stepping down

The head of a Calgary-based Canadian oil and gas lobby grouphas announced he will be stepping down.

Tim McMillan, president and CEO of the Canadian Association of Petroleum Producers,will be leaving his role, the organization said in a news release.

McMillan has served as CAPP CEO for seven years. His role is expected to conclude next yearat the association'sannual general meeting in April.

CAPP said McMillan has guided industry response through historic investment highs, commodity price volatility andthe COVID-19 pandemic.

"As the natural gas and oil industry begins its recovery from the impacts of the pandemic and years of challenging commodity markets, the timing is right for a new leader to take the reins at CAPP," McMillan said in therelease.

CAPP will launch an executive search to replace McMillan over the next six months.