Canadian energy giant Suncor (SU) has named Rich Kruger its new president and chief executive officer (CEO).
Kruger previously led Imperial Oil (IMO) from 2013 until his retirement in 2019. He is coming out of retirement to helm Suncor.
Kruger, age 63, will assume the leadership of Suncor on April 3 of this year. He will replace interim CEO Kris Smith.
The previous permanent CEO of Suncor, Mark Little, resigned last July following several workplace deaths and safety incidents at the company’s oil and natural gas sites.
Suncor said that Kris Smith will become the company’s chief financial officer (CFO) after the annual meeting scheduled for May 9 of this year.
The leadership change at Suncor comes after the company was targeted last summer by U.S.-based activist investor Elliott Investment Management.
Elliott Management has publicly criticized what it calls a decline in performance at Suncor. The activist investor has also criticized Suncor’s safety record.
A total of 12 workers have died at Suncor’s oilsands operations in northern Alberta since 2014, and former CEO Mark Little resigned one day after the most recent death.
Rich Kruger spent 39 years working for Imperial Oil’s parent company Exxon Mobil (XOM) and has a reputation for prioritizing worker safety.
Suncor’s stock is up 23% over the past year and trading at $45.44 per share.
