The Board of Directors of Enbridge Inc. reported that Patrick D. Daniel, President & Chief Executive Officer, will retire on or before the end of 2012.

The Board also announced the appointment of Al Monaco, currently President, Gas Pipelines, Green Energy and International, to Enbridge's Board of Directors and to the position of President effective immediately. Mr. Daniel will continue as CEO and a member of the board until his retirement.

"I would like to take this opportunity to recognize Pat's tremendous contribution to Enbridge over his tenure with the Company," said David Arledge, Chair of the Board of Directors. "Under his leadership, Enbridge's share price has grown by 250% and the average annual total shareholder return has been 15.8%. The market capitalization of the Company has grown from $6.8 billion in January 2001 to $30.1 billion today. In 2011, Enbridge was the single largest point contributor on the Toronto Stock Exchange, delivering a total return to shareholders of nearly 40% - a notable accomplishment for a company in the energy infrastructure business. Enbridge's success is testament to Pat's keen sense of the needs of Enbridge's many stakeholders, his ability to successfully navigate through challenges, and his consistent, thorough and disciplined leadership style.

"Pat will leave Enbridge with the strongest five-year plan and forward outlook that we have ever had. His commitment to ensuring Enbridge's long-term success can be seen in the more than $13 billion of secured growth projects to come in service between 2011 and 2015 and another $35 billion of new opportunities over the 2011 to 2020 timeframe. He has established positive relationships with Enbridge's customers, notably, the mutually beneficial 10-year Competitive Toll Settlement (CTS) signed with liquids shippers in 2011," said Mr. Arledge.

Tags: Enbridge Inc.