If you live in Saint John, you know the impact of Irving Oil on the local economy. Now, the company has a new leader. Irving Oil announced Alfred Stern will take over as president and CEO this fall. Stern brings three decades of experience in the global energy sector to Canada’s largest refinery.

A Wealth of Global Experience

Stern joins Irving Oil on October 1 and officially assumes the president and CEO title on November 1. He recently served as the CEO and executive chair of OMV AG. The company described OMV AG as “one of Europe’s largest integrated energy, fuels and chemicals companies.”

According to CBC News, Stern has extensive leadership experience. The company stated he has “more than 30 years of leadership experience across the full energy value chain spanning operations in North America, Europe, the Middle East and Asia.” Irving Oil also noted Stern “has successfully led and transformed large multinational industrial groups through complex transformations and significant strategic decisions.”

Leadership Transition

Current president and CEO Jeff Matthews will retire when Stern begins his appointment. Matthews took on the role in January 2025.

This leadership change follows a period of significant transition for your local refinery. Early in 2025, Irving Oil confirmed it would not be sold. This announcement ended years of speculation that began with a strategic review in June 2023.

The company also experienced a major loss recently. Arthur Irving ran the company for decades and died in May 2024. He had stepped down as company chair shortly after the strategic review began. His daughter Sarah Irving also left her executive vice president position around the same time.

Today, Irving Oil employs 4,000 people and processes 320,000 barrels of oil a day at the Saint John facility.

Frequently Asked Questions

Who is the new CEO of Irving Oil?

Alfred Stern is the incoming president and CEO. He previously led European energy giant OMV AG.

When does Alfred Stern start his new job?

Stern joins the company on October 1 and officially becomes president and CEO on November 1.

What happens to the current CEO?

Jeff Matthews will retire when Stern takes over the position.

Is Irving Oil up for sale?

No. The company announced in early 2025 that it would not be sold.