Suncor names former ExxonMobil executive as new CEO
(WO) – Suncor’s board of directors has unanimously selected Rich Kruger to be the company’s next President and Chief Executive Officer, effective April 3, 2023. Mr. Kruger will also join the Suncor Board of Directors.
The announcement follows a rigorous global search process conducted by a special committee of the Board. The committee undertook an extensive evaluation of a number of highly qualified candidates with the support of an international executive recruiting firm.
Rich Kruger had a long and successful career with Exxon Mobil Corporation for 39 years, leading Imperial Oil Limited as Chairman, President and CEO from 2013 through 2019 before retiring from the company. Mr. Kruger successfully drove a strong performance culture by focusing on safety, reliability and operational excellence - enabling the company to deliver exceptional financial results and unprecedented returns to shareholders.
“Rich is a highly capable and seasoned CEO with an impressive track record of leading a safety culture,” said Board Chair Mike Wilson. “Known as a strong and engaging leader, Rich is well regarded for his strategic and commercial aptitude, and for his experience in the Canadian oil sands. The Board looks forward to working with Rich, as he provides the leadership to deliver world-class performance that maximizes shareholder returns.”
Kris Smith, who has been the interim CEO since July 2022, will work with Mr. Kruger to facilitate a smooth leadership transition before assuming the role of Chief Financial Officer and Executive Vice President of Corporate Development, at the conclusion of Suncor’s annual general meeting on May 9, 2023.
“I would also like to thank Kris for his tremendous leadership through this interim period,” added Wilson. “He took decisive action to drive necessary improvements in Suncor’s performance. The Board is confident that Kris will continue to provide Suncor with strong leadership as CFO and head of Corporate Development while working closely with Rich in moving Suncor forward. Not only does he have strategic vision, a deep understanding of the business and uncompromising integrity, but Kris also brings strong financial acumen and commercial experience to his new role.”