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Sulphur 405 Mar-Apr 2023

31 March 2023

People

Suncor has selected Rich Kruger to be the company’s next president and CEO, effective from April 3rd, according to the company. Kruger will also join the Suncor board of directors. The announcement follows a search process conducted by a special committee of the board. Rich Kruger previously worked for ExxonMobil for 39 years, and was the chairman and CEO of Imperial Oil Ltd from 2013 through 2019 before retiring from the company, where he focused on safety, reliability and operational excellence. Kris Smith, who has been interim CEO since July 2022, will work with Kruger to ensure a smooth 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 to Mr. Smith and to provide advisory services. Smith replaced previous CEO Mark Little, who resigned in July 2022 following investor pressure after a series of safety incidents and fatalities.

“Rich is a highly capable and seasoned CEO with an impressive track record of leading a safety culture,” said chairman 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.”

Rich Kruger

“I am very excited and energized about the opportunity to lead Suncor into the next chapter,” said Rich 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.”

Emerging African phosphate producer and developer Kropz has appointed Louis Loubser as CEO and executive director with immediate effect. Kropz chairperson Lord Robin Renwick said: “the board are delighted to welcome Louis Loubser to the board as the company’s new CEO. Louis has significant operational experience, which is what the company most needs at this stage of its development. The board would also like to take this opportunity to thank [former CEO] Mark [Summers] for his very significant contribution while he had been at Kropz and wish him well in all his future endeavour.” comments.

The board of directors of Brazilian state oil firm Petrobras has approved the appointment of Jean Paul Prates as its new CEO. He was voted to be added to the board at a directors meeting, and designated as CEO on a temporary basis to April 13, after which his appointment is expected to be extended for the long term. Prates previously served as a senator and energy secretary for the state of Rio Grande del Sul before becoming an energy advisor to the administration of President Luiz Inacio “Lula” da Silva. He is known for championing renewable power projects in the state as well as his consulting work as the executive director of Expetro Consultoria em Recursos Naturais Ltda. Prates is expected to carry out the priorities of the Lula administration, which include keeping Petrobras more active in refinery projects and finding a way to cushion the sting of higher fuel prices, which are pegged to global markets under the company’s current policy. He is also expected to develop a greater role for renewables within the company, which has hitherto largely stuck to its mandate to produce oil and gas during the term of former President Jair Bolsonaro despite pressure from investors to expand its low-carbon remit.

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