AGDC board taps former VP as interim president

The Alaska Gasline Development Corp. began formally regrouping Dec. 18 when Fritz Krusen was named interim president and other board of directors positions were settled.

Krusen previously held a vice president position with AGDC focusing on the Alaska LNG Project.

He replaces Dan Fauske, who resigned his post as AGDC president Nov. 20, after Gov. Bill Walker indicated he wanted a different skill set in the leadership position for the state group tasked with developing a large gasline project. The day prior, Walker had removed two other members of the board including former chair John Burns.

Fauske’s expertise is in finance; he was the longtime CEO of the Alaska Housing Finance Corp. before moving to AGDC. Krusen spent most of his professional career with ConocoPhillips — one of the state’s partners in the $45 billion-plus Alaska LNG Project — on LNG projects, including time at the company’s Nikiski LNG export facility.

“We will not skip a beat with (Krusen) as president,” AGDC board chair Dave Cruz said after the Dec. 18 board meeting.

Cruz, who had been acting AGDC president and interim board chair, also officially took over the chair position. He is the only remaining member appointed by former Gov. Sean Parnell on the seven-member board.

Cruz’s background is in the heavy construction industry; he owns Palmer-based Cruz Construction Inc., a consortium of firms specializing in oil and gas-related work.

Hugh Short, CEO of the Arctic investment firm Pt Capital, was elected to the role of AGDC board vice chair.

While Krusen is now the interim AGDC president, the state corporation has also contracted with B and R Partners Inc., a Houston-based executive search firm specializing in the oil and gas industry, to find a permanent replacement for Fauske.

Cruz said it is too early in the process to say whether Krusen will be a candidate for the position, but added the board’s goal is to have a permanent president in place within six months.

Elwood Brehmer can be reached at elwood.brehmer@alaskajournal.com.

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