Rich Kruger has been named president and CEO, and CFO Alister Cowan plans to retire at the end of the year.
Courtesy Suncor Energy
Kris Smith, who has been the interim CEO since July 2022, will work with the new CEO to facilitate a leadership transition before assuming the role of CFO and executive vice president of corporate development.
Calgary, Alberta —Suncor's board of directors has unanimously selected Rich Kruger to be the company's next president and CEO, effective April 3, 2023.
Kruger will also join the Suncor board of directors.
Kruger worked with Exxon Mobil Corp. for 39 years, leading Imperial Oil Ltd. as chairman, president and CEO from 2013 through 2019 before retiring from the company.
Kris Smith, who has been the interim CEO since July 2022, will work with Kruger to facilitate a leadership transition before assuming the role of CFO and executive vice president of corporate development, at the conclusion of Suncor's annual general meeting on May 9, 2023.
Courtesy Suncor Energy
Alister Cowan
Alister Cowan, the current CFO, plans to retire but has offered to remain with the company through the end of the year to support the transition to Smith and to provide advisory services.
The Canada-based integrated energy company's operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the US and the company's Petro-Canada retail and wholesale distribution networks.
In August 2022, Sval Energi signed an agreement to acquire Suncor Energy Norge for about $410 million. The corporate transaction included a 17.5% interest in the Fenja Field development in PL 586 in the Norwegian Sea, 30% in the producing Oda Field and eight further licenses offshore Norway. The acquisition of Suncor Energy Norge AS closed Sept. 30, with an effective date of March 1, 2022.
