Suncor Board selects Kruger to be next president and CEO
Rich Kruger, who retired as chairman, president and CEO of Imperial Oil Limited in 2019, has been selected to lead Suncor, Canada’s leading integrated energy company based in Calgary. Kruger’s appointment as president and CEO is effective April 3, 2023. He will also join the Suncor Board of Directors.
“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 maximises shareholder returns.”
“I am very excited and energized about the opportunity to lead Suncor into the next chapter,” said Kruger. “Suncor has great people and assets. Combined with strong leadership and the right culture, we can leverage the company’s competitive advantages to excel.”
Kris Smith, who has been the interim CEO since July 2022, will work with 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. 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.
Suncor’s operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and the company’s Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging EV stations. Suncor is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. Suncor also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.
