December 3, 2022

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Canada’s Enbridge names Chairman Ebel as CEO, replacing Monaco who retires after 10 years

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Oct 3 (Reuters) –

Enbridge Inc on Monday named its Chairman Greg Ebel as the new chief executive, replacing Al Monaco who will retire after a decade at the helm of Canada’s biggest pipeline operator during which it faced fierce opposition from environmentalists.

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Ebel, 57, who has been board chair since 2017, will start his new role on Jan. 1, 2023. Prior to that, he was CEO of pipeline company Spectra Energy, which Enbridge acquired in a C$37 billion ($27.1 billion) deal.

Under Monaco, Enbridge has grown its renewables business through offshore wind investments in Europe and last week announced the acquisition of U.S. onshore wind developer Tri Global Energy even as it continued to expand its conventional energy infrastructure.

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“Under Greg’s leadership that’s going to continue,” Monaco, 62, told Reuters in an interview, referring to Enbridge’s two-pronged strategy of investing in conventional and low-carbon energy infrastructure.

“I’ve always felt seven to 10 years is probably the right amount of time for a…

Reuters

2022-10-03 12:21:43

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