Enbridge Inc. filed this Form 8-K on 9/1/2021
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 1, 2021, Vern D. Yu, Executive Vice President & President, Liquids Pipelines of Enbridge Inc. (“Enbridge”), was appointed Executive Vice President & Chief Financial Officer, and Colin K. Gruending, Executive Vice President & Chief Financial Officer, was appointed Executive Vice President & President, Liquids Pipelines, both effective October 1, 2021 (the “Effective Date”). Messrs. Yu and Gruending will succeed each other in their respective positions with Enbridge on the Effective Date.
Mr. Yu, 55, has served as Executive Vice President & President, Liquids Pipelines since January 1, 2020. Previously, Mr. Yu served as President & Chief Operating Officer for Liquids Pipelines in 2019, and prior to that served as Executive Vice President & Chief Development Officer from 2016 to 2019. During his 25+ year tenure with Enbridge, Mr. Yu has held executive roles in finance, strategic planning, corporate development, and renewable power as well as leading the business and market development activities for Liquids Pipelines during a period of substantive growth. Mr. Yu has a Master of Business Administration, Bachelor of Applied Science (Engineering) and is a Professional Engineer. There is no arrangement or understanding between Mr. Yu and any other person pursuant to which he was appointed and there are no family relationships between Mr. Yu and any director or executive officer of Enbridge. Mr. Yu has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Mr. Gruending, 52, has served as Executive Vice President & Chief Financial Officer since June 1, 2019. Previously, Enbridge’s Senior Vice President, Corporate Development & Investment Review, Mr. Gruending performed a number of progressively challenging executive roles such as Vice President Corporate Development & Planning and Vice President, Treasury & Tax while concurrently serving as Chief Financial Officer for Enbridge Income Fund and Enbridge Income Fund Holdings Inc. During his 22+ years with Enbridge, Mr. Gruending has held several executive leadership roles in finance, investor relations, accounting, pension management, strategic planning, corporate development, and M&A. Mr. Gruending has a Bachelor of Commerce and holds Chartered Professional Accountant and Chartered Financial Analyst designations.
No changes to the employment agreements or compensation of Messrs. Yu or Gruending have been made in connection with their respective appointments.
Enbridge issued a press release announcing the appointments of Messrs. Yu and Gruending, a copy of which is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
|99.1||News Release dated September 1, 2021|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Date: September 1, 2021||By:||/s/ Karen K.L. Uehara|
Karen K.L. Uehara
Vice President & Corporate Secretary
(Duly Authorized Officer)
Enbridge Announces Executive Leadership Changes
CALGARY, AB, September 1, 2021 /CNW/ – Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today announced the following executive leadership changes, effective October 1, 2021.
Vern Yu is appointed Executive Vice President & Chief Financial Officer taking over from Colin Gruending. Vern will be accountable for all the Company’s financial affairs including Budgeting, Financial Planning & Reporting, Treasury, Investor Relations, Tax, Risk, Insurance and Audit management functions as well as Sustained Business Optimization. Prior to this role, Vern was Executive Vice President & President, Liquids Pipelines. During his 25+ year tenure with Enbridge, Vern has held executive roles in finance, strategic planning, corporate development, and renewable power as well as leading the business and market development activities for Liquids Pipelines during a period of substantive growth. Vern has a Master of Business Administration, Bachelor of Applied Science (Engineering) and is a Professional Engineer.
Colin Gruending is appointed Executive Vice President & President Liquids Pipelines taking over from Vern Yu. Colin will be accountable for all of Liquids Pipelines operations and business development. Prior to this role, Colin was Executive Vice President & Chief Financial Officer. During his 22+ years with Enbridge, Colin has a developed a deep understanding of the business and operations having held several executive leadership roles in finance, investor relations, accounting, pension management, strategic planning, corporate development, and M&A. Colin has a Bachelor of Commerce and holds Chartered Professional Accountant and Chartered Financial Analyst designations.
“These executive appointments once again illustrate our ongoing emphasis on developing our people and further strengthening our executive team for the future,” said Al Monaco, President & Chief Executive Officer of Enbridge.
About Enbridge Inc.
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,766 MW of net renewable power in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.
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