Enbridge chief financial officer to retire, role to be split

Wed Jun 18, 2014 5:26pm EDT
 
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CALGARY, Alberta, June 18 (Reuters) - Enbridge Inc, Canada's No.1 pipeline company, said on Wednesday its chief financial officer would retire at year end and be replaced by two executives.

Richard Bird joined the company in 1995 and became the top financial executive and head of its corporate development department in 2008. Those roles will be split upon his retirement from Enbridge, the backer of the controversial C$7.9 billion ($7.3 billion) Northern Gateway pipeline.

John Whelan, now a senior vice-president and Enbridge's controller, will become senior vice-president, finance and Vern Yu is promoted to senior vice-president of corporate development from his current role as head of the liquids pipeline business and market development.

Both appointments are effective July 1 and will report to Bird.

"One of Richard's main responsibilities for the rest of the year will be to support John and Vern in their new roles," Al Monaco, the company's chief executive said in a statement.

Enbridge pipelines carry the lion's share of Canada's crude exports to the United States, but it is best known for its proposed Northern Gateway pipeline, which will carry crude oil from Alberta's oil sands to an export port on British Columbia's Pacific coast. The federal government approved the project on Tuesday despite opposition from environmental and aboriginal groups.

Enbridge shares fell 58 Canadian cents to C$51.38 on the Toronto Stock Exchange on Wednesday.

($1 = 1.0853 Canadian Dollars) (Reporting by Scott Haggett; editing by Andrew Hay)