Enbridge Announces Executive Changes
CALGARY, ALBERTA -- (Marketwired) -- 06/18/14 -- Enbridge Inc.
(TSX: ENB)(NYSE: ENB) announced today that J. Richard Bird, Executive
Vice President, Chief Financial Officer and Corporate Development,
plans to retire by the end of 2014. Upon Mr. Bird's retirement, his
responsibilities will be split into two separate roles of chief
financial officer and chief development officer. Enbridge also
announced the appointment of John Whelen as Senior Vice President,
Finance and of Vern Yu as Senior Vice President, Corporate
Development, both reporting to Mr. Bird, effective July 1st, 2014.
Mr. Whelen is currently Enbridge's Senior Vice President and
Controller. He will retain executive leadership for Enbridge's
financial reporting function and will also assume responsibility for
Enbridge's tax and treasury functions. Mr. Whelen has been part of
the Enbridge team for 22 years in a series of executive positions of
increasing responsibility including treasury, risk management,
corporate planning and development, and financial reporting. He has
served as the chief financial officer and then the president of the
Enbridge Income Fund where he led the business through a period of
significant growth. Throughout his history with the company, Mr.
Whelen has developed extensive experience in capital markets and has
been instrumental in securing billions of dollars in growth capital
funding for Enbridge.
Mr. Yu is currently Enbridge's Senior Vice President, Liquids
Pipelines Business and Market Development. He will assume
responsibility for executive leadership of Enbridge's corporate
planning and development function, including strategic planning and
investment review. He will also assume responsibility for the
oversight of Enbridge's new growth platforms including renewable
energy, international and energy services. Mr. Yu has been part of
the Enbridge team for 21 years in a series of executive positions of
increasing responsibility. Most recently, Mr. Yu led the Liquids
Pipelines business development team to secure more than $30B in new
growth projects, which will facilitate new market access for our
customers. In addition he has also held several senior corporate and
Al Monaco, President and Chief Executive Officer of Enbridge
commented on the executive changes, "Richard has been a key member of
Enbridge's executive leadership team for two decades, holding both
senior financial and operational roles. He is highly respected by our
employees and our external stakeholders. Among many accomplishments,
Richard has been instrumental in developing Enbridge's disciplined
capital investment process and assuring a prudent approach to
financial management. He is also responsible for the creation of our
sponsored vehicles, Enbridge Energy Partners and Enbridge Income
Fund, as well as securing Enbridge's investment in Gaz Metro through
the Noverco structure. Enbridge's executive leadership team and our
Board of Directors greatly appreciate Richard's contribution to
"We are also very pleased to have John Whelen and Vern Yu assuming
their new roles within our leadership team.
"The fact that we have the internal bench strength to fill two such
critical senior roles is a confirmation of the effectiveness of our
succession management and leadership development program. One of
Richard's main responsibilities for the rest of the year will be to
support John and Vern in their new roles."
About Enbridge Inc.
Enbridge Inc., a Canadian Company, is a North American leader in
delivering energy and has been included on the Global 100 Most
Sustainable Corporations in the World ranking for the past six years.
As a transporter of energy, Enbridge operates, in Canada and the
U.S., the world's longest crude oil and liquids transportation
system. The Company also has a significant and growing involvement in
natural gas gathering, transmission and midstream businesses, and an
increasing involvement in power transmission. As a distributor of
energy, Enbridge owns and operates Canada's largest natural gas
distribution company, and provides distribution services in Ontario,
Quebec, New Brunswick and New York State. As a generator of energy,
Enbridge has interests in 1,800 megawatts of renewable and
alternative energy generating capacity and is expanding its interests
in wind and solar energy and geothermal. Enbridge employs more than
10,000 people, primarily in Canada and the U.S. and is ranked as one
of Canada's Top 100 Employers for 2014. Enbridge's common shares
trade on the Toronto and New York stock exchanges under the symbol
ENB. For more information, visit www.enbridge.com. None of the
information contained in, or connected to, Enbridge's website is
incorporated in or otherwise part of this news release.
Senior Vice President, Finance
John Whelen is currently the Senior Vice President and Controller for
Enbridge Inc. Effective July 1, 2014, he will become the Senior Vice
President, Finance for Enbridge Inc. He will retain executive
leadership of the Company's financial reporting function and will
assume responsibility for Enbridge's tax and treasury functions.
John began his career with Enbridge in 1992 when he joined the
Consumers Gas Company (now Enbridge Gas Distribution) as Manager of
Treasury. Since that time, he has held roles of increasing
responsibility within the finance organization at Enbridge. Prior to
his role as Controller, John held a number of other senior management
positions including Senior Vice President, Corporate Development and
Vice President & Treasurer responsible for cash management and
banking, corporate finance and risk management. He also served as
President of the Company's publicly traded affiliate Enbridge Income
Fund Holdings Inc. and its predecessor, Enbridge Income Fund from
2008 through the end of 2013.
Prior to joining Enbridge, John worked in the financial services
sector in a variety of roles focused on funding and treasury
management. John holds an MBA (Finance) from McMaster University and
a B.Sc. (Economics) from the University of Victoria.
Senior Vice President, Corporate Development
Vern Yu is currently the Senior Vice President, Liquids Pipelines
Business and Market Development. Effective July 1, 2014, he will
become the Senior Vice President, Corporate Development for Enbridge
Inc. He will be responsible for Enbridge's corporate planning and
development function, including strategic planning and investment
review. He will also be responsible for the oversight of Enbridge's
new growth platforms: renewable energy, international and energy
In his senior executive role with the Liquids Pipelines Business and
Market Development group, Vern has been responsible for all business
and market development activities for Enbridge's crude oil
infrastructure business. He led the Liquid Pipelines business
development team securing more than $30B in new growth projects,
which will facilitate new market access for our customers. Vern also
served as Vice President, Investor Relations and Enterprise Risk, and
has held leadership roles in capital markets, financial risk
management and treasury functions.
Vern currently serves as the Vice Chair of the Alberta Cancer
Foundation's Board of Trustees and is the 2014 Chair of the Enbridge
Ride to Conquer Cancer.
Before coming to Enbridge in 1993, Vern worked as an engineer at
TransCanada Pipelines and Bow Valley Industries. He has an MBA in
Finance from the University of Toronto and a B.Sc. (Applied Science)
from Queen's University.
(403) 508-6563 or Toll Free: (888) 992-0997
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