CALGARY, AB /ACCESSWIRE/October 18, 2022/ – Enbridge Inc. (TSX:ENB) (NYSE:ENB)(Enbridge or the Firm) lately introduced the retirement of Al Monaco as President and Chief Govt Officer and its Board of Administrators efficient of January 1, 2023. Concurrent with this announcement and after reviewing inside and exterior candidates, the Board of Administrators has appointed Greg Ebel, at present Chairman of the Board, to succeed Mr. Monaco as President and Chief Govt Officer. Mr. Ebel may also proceed as a member of the Board of Administrators. A brand new unbiased chairman of the board will likely be appointed earlier than January 1, 2023. To help Mr. Ebel all through the transition, Mr. Monaco will function an advisor till March 1, 2023.
“On behalf of the Board, I wish to thank Al for his invaluable and daring management over the previous decade as CEO and all through his 27 years at Enbridge,” mentioned Greg Ebel. “Al led Enbridge by means of a interval of unprecedented development, repositioning the corporate as a frontrunner on 4 premier platforms, strengthening its low-risk pipeline utility mannequin and delivering constant monetary efficiency, income will increase dividends and natural development. Underneath his management, Enbridge strategically expanded its liquids pipeline enterprise on the U.S. Gulf Coast, executed the profitable $37 billion merger with Spectra Power, expanded its crude oil and LNG export capabilities, and accelerated its income development. renewable and low carbon power.
“Al’s unparalleled management, self-discipline and integrity have ensured the corporate is extremely effectively positioned to stay an important a part of the North American power material and to develop for many years to come back. the corporate’s engagement, variety, fairness and inclusion and expertise promotion will present a sustainable basis for the long run. On behalf of the Board and Enbridge, we want Al all the most effective.
Mr. Ebel continued, “Enbridge is actually the premier power infrastructure firm in North America and I’m happy to construct on administration’s monitor document of success. Our extraordinary administration group has constantly superior our strategic priorities and generated important shareholder worth by means of disciplined investing and a I sit up for working with all of our workers and the Board of Administrators as we proceed to do develop Enbridge because the power infrastructure firm of alternative in North America and that we proceed to attain the identical in new markets.
“My honest gratitude to the Board of Administrators for putting their belief in my management as we proceed to drive the corporate ahead with a constant concentrate on power transition, capital allocation, security, integrity , inclusion and excessive efficiency. With a deep appreciation for the very robust basis that Enbridge has established over greater than a century of dependable power supply, we’re all excited to develop the corporate sooner or later. future. Certainly, tomorrow is on its approach!” concluded Mr. Ebel.
Since 2017, Mr. Ebel has served as Chairman of the Board who, together with the Board, has supplied strategic oversight and management to the corporate all through its ongoing transformation. His biography is obtainable right here.
“Greg is effectively positioned to steer Enbridge by means of the subsequent section of development,” Mr. Monaco mentioned. “His management at Spectra has made it one of many main gasoline infrastructure firms in North America, and over the previous 5 years his board oversight has strongly supported Spectra’s technique and execution. “Enbridge. Mixed together with his deep information of the trade, Greg is a superb alternative to steer Enbridge. I want Greg each success in his new position and sit up for Enbridge’s continued success.”
“I’ve been honored to steer Enbridge and our extraordinarily proficient and devoted workers over the previous decade,” added Mr. Monaco. “I’m very happy with what now we have achieved collectively to construct North America’s main diversified power supply firm. We now have constantly delivered on our strategic priorities, considerably elevated money stream and dividend, and strengthened our We now have diversified our asset combine by considerably rising the footprint of our pure gasoline infrastructure and increasing our low-cost platform. world-class carbon emissions by means of wind, photo voltaic, renewable pure gasoline, hydrogen and carbon seize.
“The group’s focus and regular progress in security, reliability, customer support and ESG management has supplied a strong basis for the long run. Collectively, now we have ensured that Enbridge is effectively positioned for the power transition, strongly advocated for our trade, and achieves our aim of fueling individuals’s high quality of life. I’m assured that the Firm and its leaders are in a wonderful place to proceed to be disciplined allocators of capital and to develop to generate worth for our shareholders. I wish to thank the Board of Administrators for his or her continued steering and help to our group,” concluded Mr. Monaco.
About Enbridge
At Enbridge, we safely join tens of millions of individuals to the power they rely upon on daily basis, powering high quality of life by means of our North American pure gasoline, oil or renewable power grids and wind portfolio. rising offshore in Europe. We spend money on trendy energy distribution infrastructure to take care of entry to safe and reasonably priced power and we draw on twenty years of expertise in renewable power to advance new applied sciences together with wind and solar energy , hydrogen, renewable pure gasoline and carbon seize and storage. We’re dedicated to decreasing the carbon footprint of the power we provide and to reaching web zero greenhouse gasoline emissions by 2050.
Primarily based in Calgary, Alberta, Enbridge’s frequent shares commerce below the image ENB on the Toronto (TSX) and New York (NYSE) inventory exchanges. To seek out out extra, go to us at Enbridge.com
Ahead-looking data
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Though Enbridge believes these forward-looking statements are cheap based mostly on the data accessible as of the date such statements are made and the processes used to organize the data, these statements should not ensures of future efficiency and readers are cautioned to not place undue reliance on forward-looking statements. statements. By their nature, these statements contain a wide range of assumptions, identified and unknown dangers and uncertainties and different components, which can trigger precise outcomes, ranges of exercise and achievements to vary materially from these expressed or implied by these statements.
Enbridge’s forward-looking statements are topic to dangers and uncertainties, together with, however not restricted to, the dangers and uncertainties mentioned on this doc and within the Firm’s different filings with Canadian and American securities regulators. The affect of any threat, uncertainty or issue on a selected forward-looking assertion can’t be decided with certainty as a result of they’re interdependent and Enbridge’s future plan of action relies on administration’s evaluation of all data accessible on the related time. Besides to the extent required by relevant regulation, Enbridge undertakes no obligation to publicly replace or revise any forward-looking statements made on this information launch or in any other case, whether or not on account of new data, future occasions or in any other case. All forward-looking statements, whether or not written or oral, attributable to Enbridge or individuals appearing on behalf of the Firm are expressly certified of their entirety by these cautionary statements.
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