After operating the Financial institution of Canada for nearly seven years, Stephen Poloz has joined the board of administrators at Calgary-based pipeline company Enbridge Inc.
Poloz’s final authentic day on the Financial institution of Canada was once Tuesday.
He was once changed through Tiff Macklem, who began his activity on Wednesday.
On Thursday, Enbridge introduced that Poloz would sign up for the corporate’s board of administrators.
“On behalf of the board of administrators of Enbridge, we’re very happy to welcome Stephen to the Enbridge board. He has in depth industry and monetary revel in, in addition to experience in international economics and public coverage. He’s going to be a very good addition to our board and we look ahead to his contributions,” chair Greg Ebel mentioned in a remark.
Along with pipelines, Enbridge additionally has herbal gasoline distribution and garage operations that serve retail shoppers in Ontario and Quebec and renewable energy property in North The united states and Europe.
Prior to main the central financial institution, he was once leader govt of Export Building Canada from 2011 to 2013.
Monetary phrases weren’t disclosed, however corporate filings counsel Poloz will earn no less than $320,000 in overall reimbursement from the activity. That is in line with the $320,079 that the bottom paid board member took in at Enbridge final 12 months.
He would possibly make extra, on the other hand. Ebel was once paid $706,133 for his management position at the board final 12 months. All different board individuals have been paid between $320,000 and $391,000 final 12 months.
It is not identified precisely how a lot Poloz earned as head of the Financial institution of Canada, however in line with executive pointers he earned between $463,100 and $544,800 in 2017, the latest 12 months for which information is to be had.