8-KLeadership ChangesRegulation FDExhibits & Filings

ENBRIDGE INC 8-K Report, Executive Changes (Oct 4, 2022)

Filed October 4, 2022For Securities:ENBENBMFEBBGFEBRGFEBRZFENBGFENBRFENFFFEBGEFENBFFENBHFENBNFENBOFENBSFEBBNFENNPF

Summary

Enbridge Inc. (ENB) announced a significant leadership transition, with President and CEO Al Monaco intending to retire effective January 1, 2023. Mr. Monaco's departure is for personal reasons and not due to any disagreements with the company. His retirement marks the end of an era for the company, and he will serve as an advisor through March 1, 2023, to ensure a smooth handover. The Board of Directors has appointed current Board Chair, Greg Ebel, to succeed Mr. Monaco as President and CEO, also effective January 1, 2023. Mr. Ebel brings extensive experience to the role, having previously served as Chairman, President, and CEO of Spectra Energy. A new independent Board Chair will be appointed before the leadership transition takes place.

Key Highlights

  • 1Al Monaco to retire as President and CEO of Enbridge Inc. effective January 1, 2023.
  • 2Greg Ebel, current Board Chair, appointed as the successor President and CEO.
  • 3Mr. Monaco's retirement is based on personal reasons, with no noted disagreements with the company.
  • 4Mr. Monaco will serve as an advisor to support the transition until March 1, 2023.
  • 5Greg Ebel has a strong background in the energy sector, including prior leadership roles at Spectra Energy.
  • 6A new independent Board Chair will be named before January 1, 2023.

Frequently Asked Questions

Al Monaco's decision to retire as President and CEO is for personal reasons and not a result of any disagreement relating to Enbridge Inc.'s operations, policies, or practices.

Greg Ebel, the current Chairman of the Board, has been appointed to succeed Al Monaco as President and CEO, effective January 1, 2023.

Yes, Al Monaco will serve as an advisor to Greg Ebel through March 1, 2023, to ensure a smooth leadership transition.

Greg Ebel has significant experience in the energy sector. He has served as Chair of Enbridge's Board since 2017 and was previously Chairman, President, and CEO of Spectra Energy from 2009 until its merger with Enbridge.