Suncor Energy Inc.

Suncor Energy Inc.

April 26, 2007 00:00 ET

Suncor Energy shareholders approve all resolutions at Annual Meeting

New Chairman of Board of Directors named

 

Calgary, Alberta (April 26, 2007) — Suncor Energy Inc. today held its annual and special meeting of shareholders in Calgary. The meeting was attended by approximately 200 in person, with an additional 250 joining in the webcast. A total of approximately 344 million shares (approximately 75% of outstanding common shares) were represented in person or by proxy.

During business proceedings at the meeting, shareholders approved the following resolutions:

1. The appointment of PricewaterhouseCoopers LLP as Suncor's auditors.

2. The appointment of 11 Board members, including 10 independent directors, with shares represented voting in favour of individual directors as follows:

Mel E. Benson
Brian A. Canfield
Bryan P. Davies
Brian A. Felesky
John T. Ferguson
W. Douglas Ford
Richard L. (Rick) George
John R. Huff
M. Ann McCaig
Michael W. O'Brien
Eira M. Thomas

94%
99%
99%
99%
99%
99%
99%
99%
99%
91%
99%


Note: the biographies of Board members and further details about Suncor's corporate governance practices are available on www.suncor.com. 


3. The approval of amendments to equity compensation plans, with 97% of shares represented voting in favour.

4. The approval of the stock-based portion of a new employee long-term performance incentive plan, with 65% of shares represented voting in favour.

5. The approval of an amendment to Suncor's by-laws, with 99% of shares represented voting in favour.

The text of remarks by Rick George, Suncor president and chief executive officer and, Ken Alley, senior vice president and chief financial officer, are available in the newsroom. An archive of the video webcast of the meeting will be available by 1 p.m., Friday, April 27 at www.suncor.com/webcasts.

Following the meeting, the Board of Directors named John Ferguson, a Suncor director since 1995, as the new chairman. JR Shaw retired as chairman after nine years of service on Suncor's Board. The Board thanked Mr. Shaw for his strong leadership during a time of significant growth and change for Suncor.

Mr. Ferguson, founder and chairman of the board of Princeton Development Ltd. and Princeton Ventures Ltd., brings extensive governance experience and financial expertise to his new role.

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 more information, contact:

Brad Bellows

403-269-8717