Imperial Oil CEO Rich Kruger to retire, Brad Corson named next CEO

Imperial Oil CEO Rich Kruger to retire, Brad Corson named next CEO
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CALGARY — Imperial Oil Ltd. says chairman and chief executive Rich Kruger is retiring at the end of this year.

Kruger has led the company, which is about 70 per cent owned by Texas-based Exxon Mobil Corp., since 2013.

He began his career at Exxon in 1981 and held various technical and management positions before coming to Canada.

The company says Brad Corson will take over as president effective today and become chairman and chief executive on Jan. 1, 2020.

Corson joined Exxon in 1983 as a project engineer and has held a variety of technical, operations, commercial and managerial assignments around the world.

He was appointed president, ExxonMobil Upstream Ventures and vice-president of ExxonMobil Corp., in 2015.

Companies in this story: (TSX:IMO)

throughout the United States as well as

Before coming to Canada, he led development and production activities in the former Soviet Union, Africa, Asia Pacific and the Middle East and was president of ExxonMobil Production Co. and a vice-president of ExxonMobil Corp.

is pleased to announce the appointment of B.W. (Brad) Corson as president, effective September 17, 2019.

, has declared his plans to retire at the end of December, 2019. Mr. Corson will assume the role of chairman, president and CEO of Imperial Oil Limited on January 1, 2020.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190917005384/en/

B.W. (Brad) Corson (Photo: Business Wire)

B.W. (Brad) Corson (Photo: Business Wire)

“On behalf of the Imperial board of directors, I would like to thank Rich Kruger for his outstanding leadership and dedication over the last almost seven years. During his tenure, Rich has led the organization through a period of record upstream growth, exceptional downstream financial and operational performance, and unprecedented returns to shareholders in the form of share repurchases and dividend growth,” said Imperial Oil Limited board member Krystyna Hoeg. “That said, perhaps Rich’s greatest legacy to the company and its employees is his work to successfully ignite and foster cultural change within Imperial to enhance competitiveness and position it well for the future.”

Mr. Kruger, born in Minneapolis, Minnesota, holds a mechanical engineering degree from the University of Minnesota and an MBA from the University of Houston. He

The Canadian Press

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