Al Monaco to lead Enbridge as president and CEO
By Alyssa Dalton
September 6, 2012 – Enbridge has announced Al Monaco as president and CEO, retiring Patrick D. Daniel from the role, effective October 1, 2012. Daniel will also retire from his position on the board at that time.
“Enbridge has a long and successful history in delivering energy in North America and I feel privileged to have this opportunity to lead the Company,” said Monaco. “Pat Daniel has been an exceptional leader and positioned us very well for the future. On behalf of our Board of Directors, management team and nearly 8,000 employees, we thank Pat for his dedication, vision and hard work.”
Monaco is currently a board member.
Moving forward, Enbridge’s main priorities are threefold, he continued.
“First and foremost, we will establish Enbridge as an industry leader in safety, operational reliability and environmental performance. Second, we will focus on executing our $17 billion of secured capital investments that will drive significant earnings and cash flow growth over the next five years and beyond. Importantly, this priority lines up with our objective of providing value added solutions for our customers. Finally, we will continue to develop new business platforms that will extend our growth rate into the next decade. Together with the rest of the management team and staff, I look forward to delivering on these priorities.”
“After nearly 12 years as CEO, and more than 30 as an employee of the company, I am proud of Enbridge and all that we have accomplished,” said Daniel. “Over the past few months, Al and I have worked together to smoothly transition leadership of the company and I am confident Enbridge will continue to deliver on its growth plans and to evolve as a leading energy delivery company.”