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.