Suncor Energy Appoints Rich Kruger as New CEO

Suncor Energy Inc., one of Canada’s largest integrated energy companies, has announced the appointment of Rich Kruger as its new Chief Executive Officer.

Kruger is replacing Steve Williams and brings 40 years of experience to the role, having been with Suncor since 2003 and holding various executive positions, including president and chief operating officer.

The company made the announcement on Tuesday, putting an end to months of anticipation among industry experts and investors.

On April 3, Kruger will take over as CEO, replacing Kris Smith, who has been interim CEO since Mark Little resigned in July 2022 under investor pressure and following a number of fatal accidents in the workplace.

Kruger has a long and successful history in the oil and gas industry and is well-positioned to lead Suncor to greater levels of success. He has a history of driving growth and innovation and has successfully managed operations in some of the most challenging environments.

Scotiabank analyst Jason Bouvier said on Tuesday that the appointment of Kruger as CEO should satisfy those who wanted to see a change in leadership at Suncor.

“We view these changes as positive as it will provide those in the market that wanted a change in leadership with an actionable event,” said Bouvier.

Kruger has said he is focused on continuing Suncor’s commitment to investing in renewable energy and reducing its environmental footprint. In addition, he has promised to prioritize the company’s integrated business strategy, which includes exploration and production, refining and marketing, and retail, in his efforts to increase shareholder value.