Suncor Energy Inc.

Suncor Energy Inc.

March 04, 2008 00:00 ET

Suncor Energy announces senior management appointments

Calgary, Alberta (March 4, 2008) — Suncor Energy Inc. Chief Operating Officer Steve Williams today announced three appointments to the company's executive leadership team.

Jay Thornton assumes the role of executive vice president, Refining and Marketing, with responsibility for Suncor's downstream business in Canada and the United States, including refining operations, and industrial and retail marketing of refined products, as well as the company's growing renewable energy business. Thornton was previously senior vice president, Business Integration and has held a variety of roles in corporate planning and strategy in Suncor's oil sands and refining and marketing businesses. An industry veteran with more than 20 years experience, Thornton previously held various commercial, operations and planning executive positions with a major multinational oil and gas company, primarily in the downstream sector. He replaces outgoing Executive Vice President Tom Ryley, who is leaving in March.

Taking over from Thornton as senior vice president, Business Integration is Bart Demosky. In his new role, Demosky assumes responsibility for enterprise-wide business services and integration of technology and processes, including supply chain management. Demosky most recently served as treasurer and was a key leader of Suncor's finance team, providing guidance on the company's financial risk management initiatives and ensuring Suncor has the financial resources necessary to support the company's growth strategy. Prior to joining Suncor, Demosky held various senior roles in finance, risk management and energy marketing in the energy and utilities sectors.

Joel Croteau has been appointed senior vice president, Natural Gas and In Situ Resources. In this role he will be responsible for continuing to develop Suncor's natural gas production as a financial hedge against the company's internal energy demands. He is also responsible for oil sands in situ subsurface technology and reservoir development. Croteau is a 29-year Suncor veteran who has held a variety of positions in exploration and production, business services, finance, and corporate planning and strategy development. He replaces Dave Byler, who is retiring from Suncor in April.

"The quality of the senior management appointments announced today demonstrates the bench strength of Suncor's leadership team," said Williams. "I expect a smooth transition as we continue to grow our business and work to deliver safe, reliable and environmentally responsible energy production."

For more information on Suncor Energy and biographies of the company's management team, visit

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 "continuing to develop", "expect", "work to" 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.

Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66® brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.

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For further information, contact:

Brad Bellows
(403) 269-8717