Enbridge CEO Al Monaco retiring at beginning of 2023

Enbridge CEO Al Monaco is retiring from the company after a decade at the helm.

In a release Monday, Enbridge said Monaco will retire effective Jan. 1, 2023; and will be replaced by current board Chair Greg Ebel.

"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," Ebel stated in the release.

"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.”