Suncor Energy Inc.

Suncor Energy Inc.

March 05, 2007 00:00 ET

Senior management changes at Suncor Energy

Calgary, Alberta (March 5, 2007) — Rick George, Suncor Energy president and chief executive officer, today announced a restructuring of his senior management team. The changes reflect the company's primary challenge in the years ahead — managing significant growth while maintaining operational excellence across all of its business divisions.

Steve Williams is appointed to the new position of chief operating officer (COO), responsible for overseeing excellence in Suncor's operations, while ensuring that a commitment to safe and sustainable development continues to be a Suncor hallmark. For the past four years, Williams has served as executive vice president, Oil Sands.

Mike Ashar is appointed to the new position of executive vice president, Strategic Growth and Energy Trading. In this role, Ashar is responsible for developing Suncor's growth plans for expansion beyond 2012 as well as energy marketing and logistics. Ashar most recently served Suncor as executive vice president of Suncor's U.S.-based downstream operations.

Both Williams and Ashar will continue to report to the CEO in their new roles.

As COO, Williams will be accountable for overseeing Suncor's oil sands operations, natural gas and renewable energy business and refining and retail divisions. Williams' operating team will consist of Kirk Bailey, who takes over as the new executive vice president of Oil Sands; Dave Byler, executive vice president, Natural Gas and Renewable Energy; and Tom Ryley, executive vice president, Refining and Marketing. Ryley's position has been expanded to include all of Suncor's refining and retail operations in both Canada and the U.S.

"With these changes, we're harnessing the expertise that exists in our senior ranks to meet our most pressing business objectives," said Rick George. "I look forward to working with all members of our management team as we move closer to achieving our strategic goal of doubling oil sands production by 2010 to 2012 and laying the foundation for the next phase of growth."

For more information about these management changes, see background information below.

This news release contains forward-looking statements that address goals, expectations or projections about the future. These statements are based on Suncor's current goals, expectations, estimates, projections and assumptions, as well as its current budgets and plans for capital expenditures. Some of the forward-looking statements may be identified by the words "the years ahead", "commitment", "plans", "goal"  and similar expressions. These statements are not guarantees of future performance. Actual results could differ materially, as a result of factors, risks and uncertainties, known and unknown, to which Suncor's business is subject. Further discussion of the risks, uncertainties and other factors that could affect these plans, and any actual results, is included in Suncor's annual report to shareholders and other documents filed with regulatory authorities.

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include pipeline and refining operations in Colorado and Wyoming and retail sales in the Denver area under the Phillips 66® brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

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For further information, contact:

Media — Brad Bellows (403) 269-8717
Investors — John Rogers (403) 269-8670


Backgrounder:

  • As part of the announced management restructuring, Mike Ashar will be leaving Denver, Colorado, where he has served for four years as executive vice president, Refining and Marketing - U.S.A. While Ashar is happy to be returning to Calgary, he will miss his Colorado-based friends and colleagues. "But I know our industry and the community it supports will benefit from the strong leadership of Tom Ryley," said Ashar.
  • Tom Ryley is a seasoned marketing strategist who most recently served for seven years as executive vice president, Energy Marketing and Refining - Canada. Tom's new role will see him focus on increased alignment and integration of Suncor's downstream operations in both Canada and the United States.
  • Kirk Bailey has already put down roots in Fort McMurray in his former role as senior vice president of Suncor's mining and extraction operations. "I'm looking forward to this new role because it provides me with the opportunity to be a strong advocate for the oil sands industry and the community I'm proud to call home."
  • Gord Lambert, vice president, Sustainable Development, will now report to the COO (he previously reported to Suncor's chief financial officer). This move will ensure that long-term sustainability objectives continue to be integrated into our day to day operations. 
  • Suncor's management team continues to consist of Ken Alley, chief financial officer; Terry Hopwood, senior vice president and general counsel; Sue Lee, senior vice president, Human Resources and Communications; Kevin Nabholz, executive vice president, Major Projects; and Jay Thornton, senior vice president, Business Integration.