The Globe and Mail reports in its Friday, Aug. 7, edition that Rich Kruger will step down as chief executive officer of Suncor Energy next year. The Globe's Emma Graney writes that Suncor said Thursday that Mr. Kruger will move to the role of executive vice-chair in April, 2027. He will be replaced by Peter Zebedee, the former CEO of LNG Canada and current executive vice-president of upstream at Suncor. Mr. Kruger, who was previously CEO of rival Imperial Oil, was lured out of retirement in 2023 to lead Suncor after the company was targeted in an activist campaign by Elliott Investment Management. Elliott's grievances were many: declining oil sands production, rising operating expenses, stagnant stock and Suncor's poor safety record. Former CEO Mark Little resigned in 2022 amid this turmoil. The Globe says Elliott has been supportive of Mr. Kruger's turnaround strategy, which has helped boost the stock by nearly 80 per cent since he took the helm. On Tuesday, Suncor reported several record second quarter results. On Thursday, Elliott praised Mr. Kruger's efforts, saying he brought about "profound transformation" at the company. It also said Mr. Zebedee's operational experience makes him the ideal successor.