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Suncor Energy Inc
Symbol SU
Shares Issued 1,285,837,925
Close 2024-05-22 C$ 55.43
Market Cap C$ 71,273,996,183
Recent Sedar Documents

Post says CEO Kruger takes victory lap for "new" Suncor

2024-05-23 09:29 ET - In the News

The Financial Post reports in its Thursday edition that during a call with analysts on Tuesday, Suncor chief executive officer Rich Kruger vowed to continue the mission to make the company more efficient and competitive. Postmedia's Chris Varcoe writes that the integrated oil producer updated its strategy for the coming years in what Mr. Kruger dubbed an "early morning serving of meat and potatoes." Mr. Kruger said Suncor needed a new attitude. "Going back in recent history, Suncor needed to change," he said during the update. "After years of being labelled big and bloated, we have slashed costs, completed a major streamlining and refocusing of our above field organization. We've also played checkers versus chess, strategically upgrading our portfolio, consolidating ownership at Fort Hills (oilsands mine) and shedding non-core assets." It has been a time of sweeping change at one of the country's largest oil and gas producers after an activist U.S. investor targeted the company in 2022 over its weak share price performance and a string of serious injuries and fatalities. Suncor cut 1,800 positions last year in a move projected to save $450-million annually. "Today's Suncor is increasingly a new Suncor," he added.

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