15:50:39 EDT Tue 21 May 2024
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Suncor Energy Inc
Symbol SU
Shares Issued 1,318,798,897
Close 2023-05-09 C$ 39.68
Market Cap C$ 52,329,940,233
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Globe says Suncor's new boss wants to do a good job

2023-05-10 08:06 ET - In the News

The Globe and Mail reports in its Wednesday edition that when Rich Kruger took over the top job at Suncor Energy five weeks ago, he found significant gaps between its performance and what he considers best in class for the sector. In a supportive profile, The Globe's Emma Graney writes that Mr. Kruger's focus will be creating a more profitable company by focusing on safety, operational integrity and reliability. "I very much believe in making money. We are in business to make money -- and as much of it as possible," he told investors on Tuesday morning. The former chief executive officer of Imperial Oil said he will look long and hard at how Suncor does that, and figure out whether the company is getting the best bang for its buck. When it comes to Suncor's operations more broadly, Mr. Kruger said he sees a lot of opportunity for organizational efficiency, whether that is focusing on higher-value activities or eliminating low-value-added work. Even with Suncor's relatively strong balance sheet, Mr. Kruger very much believes in making only selective, well-timed investments to help increase dividends. "Right now I spring out of bed and I come in here because I think I can make a difference," he told The Globe.

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