Plains All American names new chief accounting officer
Plains All American Pipeline, L.P. announced a planned leadership transition in its accounting function.
Rhea-AI Filing Summary
Plains All American Pipeline, L.P. announced a planned leadership transition in its accounting function. Effective September 1, 2026, Russ Montgomery will become Vice President, Accounting and Chief Accounting Officer of the general partners of both PAA and Plains GP Holdings, L.P.
Chris Herbold, who has been Senior Vice President, Finance and Chief Accounting Officer of PAA and PAGP, will retire from the company on August 31, 2026. Montgomery, age 50, has held progressively senior accounting roles at PAA since 2002, including serving as Vice President, Controller since 2019, and earlier experience with Arthur Andersen LLP.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Effective date of new CAO role: September 1, 2026
Retirement date of current CAO: August 31, 2026
Age of incoming CAO: 50 years
+1 more
4 metrics
Effective date of new CAO role
September 1, 2026
Date Russ Montgomery becomes Vice President, Accounting and Chief Accounting Officer
Retirement date of current CAO
August 31, 2026
Date Chris Herbold retires from PAA and PAGP roles
Age of incoming CAO
50 years
Age of Russ Montgomery at time of announcement
Years at Arthur Andersen
4 years
Prior experience of Russ Montgomery before joining PAA
Key Terms
Chief Accounting Officer, general partner, emerging growth company, Form 8-K
4 terms
Chief Accounting Officer financial
"Russ Montgomery will be promoted to the position of Vice President, Accounting and Chief Accounting Officer"
A chief accounting officer is a senior executive responsible for overseeing a company's financial records and ensuring all accounting practices are accurate and compliant with regulations. They play a key role in preparing financial reports that help investors understand the company's financial health, much like a trusted navigator guiding a ship through complex waters. Their work ensures transparency and trust in the company's financial information.
general partner financial
"Plains All American GP LLC, the general partner of PAA, and PAA GP Holdings LLC, the general partner of PAGP"
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
emerging growth company regulatory
"405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Form 8-K regulatory
"Plains All American Pipeline FORM 8-K Pursuant to Section 13 or 15(d)"
A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.
FAQ
What executive leadership change did Plains All American Pipeline (PAA) disclose?
Plains All American Pipeline disclosed a planned accounting leadership change. Russ Montgomery will become Vice President, Accounting and Chief Accounting Officer, succeeding retiring executive Chris Herbold, who has been Senior Vice President, Finance and Chief Accounting Officer for both PAA and Plains GP Holdings.
When will Russ Montgomery become Chief Accounting Officer at Plains All American Pipeline (PAA)?
Russ Montgomery will assume the Chief Accounting Officer role on September 1, 2026. The effective date follows the scheduled retirement of current Senior Vice President, Finance and Chief Accounting Officer, Chris Herbold, who is leaving the company at the end of August 2026.
When is current Chief Accounting Officer Chris Herbold retiring from Plains All American Pipeline (PAA)?
Chris Herbold is retiring from Plains All American Pipeline on August 31, 2026. He currently serves as Senior Vice President, Finance and Chief Accounting Officer for both PAA and Plains GP Holdings and will be succeeded by long-time PAA executive Russ Montgomery.
What is Russ Montgomery’s background at Plains All American Pipeline (PAA)?
Russ Montgomery has worked at Plains All American Pipeline since 2002 in various accounting roles. His positions included SEC and financial reporting analyst, crude oil accounting manager, director of operational accounting, controller, and, since 2019, Vice President, Controller before this promotion to Chief Accounting Officer.
Which entities will Russ Montgomery serve as Chief Accounting Officer for within the Plains All American structure?
Russ Montgomery will serve as Chief Accounting Officer of Plains All American GP LLC and PAA GP Holdings LLC. These entities are the general partners of Plains All American Pipeline, L.P. and Plains GP Holdings, L.P., respectively, overseeing governance and management of the partnerships.
AI-generated analysis. How Rhea-AI works. Not financial advice.
