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.
(d) Exhibits
Exhibit
Number Description
99.1 News Release dated September 1, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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