Suncor Power Inc. introduced its subsequent president and CEO after a months-long search.
Ryk Kruger will take the highest job on the Calgary-based oil producer and refiner on April 3.
Kruger will substitute interim CEO Kris Smith, who stepped in to fill the function after Mark Little resigned in July 2022 amid investor stress and within the wake of a spate of office deaths and security incidents.
A minimum of a dozen staff have died on the firm’s oil sands operations in northern Alberta since 2014, and Little resigned simply in the future after the newest loss of life.
Kruger labored for Exxon Mobil Corp. for 39 years. labored and Imperial Oil Ltd. from 2013 to 2019 earlier than retiring from the corporate.
“Wealthy is a extremely achieved and seasoned govt with a powerful monitor report of main a security tradition,” stated Suncor Board Chairman Michael Wilson.
READ MORE: Suncor cuts contractor workforce by 20% to enhance security and effectivity
After a transition interval, Smith will assume the function of chief monetary officer and govt vice chairman of company improvement after Suncor’s annual common assembly on Could 9.
Alister Cowan, the present chief monetary officer, will retire on the finish of the 12 months, the corporate stated on Tuesday.
Wilson stated Smith “took decisive motion to drive the mandatory enhancements in Suncor’s efficiency” throughout his time as interim CEO.
Within the eight months since he was named interim CEO, Smith has carried out various modifications aimed toward enhancing employee security at Suncor websites, which had been an issue space flagged by US activist investor Elliott Funding Administration.
As the corporate reported its fourth-quarter earnings final week, Smith advised analysts that collision consciousness techniques are scheduled to go reside at Syncrude’s Aurora mine by the tip of the primary quarter, and Suncor can be on monitor to finish implementation of collision consciousness and fatigue administration. know-how techniques throughout all 9 of its oil sands websites.
The corporate can be decreasing the scale of its contractor workforce by 20 p.c, a transfer Smith stated will cut back the variety of publicity hours that put the corporate in danger for office accidents or fatalities whereas additionally reducing prices.
Suncor stated Kruger, who can even be part of the corporate’s board, was unanimously chosen for the function after a “rigorous world search” performed by a particular committee of the board.
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