Imperial Oil Ltd. has named Brad Corson its new president as the current chief executive officer heads toward retirement at the end of the year.
Rich Kruger, who heads the Calgary-based petroleum company, will retire at the end of December, allowing Corson to assume the role of chairman, president and CEO on Jan. 1, 2020, it stated in a Tuesday morning release.
“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,” Imperial Oil board member Krystyna Hoeg said in a statement.
“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.”
Corson, who hails from Woodstock, Illinois, graduated from Auburn University’s chemical engineering program. In 1983, he joined Exxon in New Orleans, Louisiana as a project engineer.
He spent 36 years with the company, working in a variety of technical, operations, commercial and managerial roles around the world, including in Hong Kong and London. Corson was appointed vice-president of ExxonMobil in 2009.
Since 2015, he’s served as president of ExxonMobil Upstream Ventures and vice-president of ExxonMobil Corporation.
Kruger has served as chairman, president and CEO of Imperial Oil since 2013, after stints as president of ExxonMobil Production Company and a vice-president of ExxonMobil Corporation.
Copyright Postmedia Network Inc., 2019