After eight years at the helm of Irving Oil Company, Ian Whitcomb announces his resignation. This major change within the New Brunswick multinational comes as the company considers the idea of restructuring or selling – full or partial – its assets.
Ian Whitcombe cites personal reasons to explain his departure. He says he is proud of his contribution to the development of Irving Oil, as well as starting the company's energy transition.
This is the third departure of the company's management in recent months. In October, we learned that patriarch Arthur Irving, 93, had left his position as chairman of the oil company's board and that his daughter Sarah Irving was no longer vice chairman.
Several Irving Oil executives have left ship in recent months. From left to right: former Vice-Chairman Sarah Irving, former Chairman Arthur Irving and Company Chairman Ian Whitcombe. All three have left their positions or announced their departure in recent months. (archive photo)
Photo: Canadian Press
Since June, rumors have abounded about a possible sale of the oil company's assets, including the Saint John refinery in New Brunswick.
The company's strategic review is ongoing and the associated results are not yet clear
Maureen Kimpston Darks, senior director of the Irving Oil Board of Directors, said in a news release Monday.
Decisions regarding Ian Whitcombe's replacement have not yet been made
she adds.
Ian Whitcomb will remain in his position until June 9, according to a company statement. Jeff Matthews, Irving Oil's chief financial officer, will eventually take over his position, according to Maureen Kimpston-Darks.
Irving is one of New Brunswick's largest employers, with about 4,000 employees.
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