Canadian pipeline company Enbridge has appointed a new chief executive officer (CEO) as the current CEO Al Monaco is retiring after 27 years with the company.
Enbridge announced Al Monaco’s retirement as president and CEO and from its board of directors effective 1 January 2023.
Concurrent with this announcement, the board of directors has appointed Greg Ebel , currently board chair, to succeed Monaco and continue as a member of the board.
“On behalf of the board, I would like to thank Al for his invaluable and bold leadership over the last decade as CEO, and throughout his 27 years with Enbridge” , said Greg Ebel. “Al has led Enbridge through a period of unprecedented growth, repositioning the business as a leader across four blue chip platforms, strengthening its low-risk pipeline utility model and driving consistent financial performance, dividend increases, and organic growth.
“Under his leadership, Enbridge strategically expanded its liquids pipeline business into the U.S. gulf coast, executed the successful $37 billion merger with Spectra Energy, built out its crude oil and LNG export capabilities and accelerated its renewable energy and low-carbon growth.”
Monaco added that Greg is well positioned to lead Enbridge in the next phase of growth.
“His leadership at Spectra built it into one of the premier North American gas infrastructure businesses, and over the last five years, his board oversight has been highly supportive of Enbridge’s strategy and execution. Combined with his deep knowledge of the industry, Greg is an excellent choice to lead Enbridge. I wish Greg all the best in his new role and look forward to the continued success of Enbridge.”
Looking to accelerate its growth in North America, Enbridge recently acquired Tri Global Energy (TGE), the U.S. renewable project developer.