Irving Oil faces a major leadership shift this week. After 32 years with the company, outgoing president and CEO Jeff Matthews retires on Friday. European energy executive Alfred Stern takes over the top job on November 1. According to a recent report from CTV News, Matthews leaves the Saint John based energy company in a strong position.

A Century of Stability

Matthews spoke to reporters on Monday and highlighted the resilience of the century old business. He noted that leadership changes are a natural part of the corporate lifecycle. Matthews told reporters the company has a very solid foundation after operating for over 100 years. He credited the dedicated employee base for driving the business in the right direction. You will see this focus on community and employee dedication continue as the new leadership steps in.

New Leadership Takes Charge

Alfred Stern brings extensive European energy experience to Saint John. He spent the last few weeks on the ground getting familiar with the operations. While Stern declined to speak with reporters this week, he shared his vision in a September press release. Stern stated he looks forward to meeting teams and partners across Eastern Canada, New England, and Ireland. He plans to build on the company foundation by investing in safety, reliability, and security of supply.

Major Investments at the Saint John Refinery

The leadership change happens during a busy time for the Saint John refinery. As the largest refinery in Canada, the facility processes over 320,000 barrels a day. The company is currently executing a 235 million dollar refurbishment known as Operation Osprey at the site. This project ensures the facility remains competitive and efficient for years to come.

Frequently Asked Questions

Who is the new CEO of Irving Oil?

Alfred Stern is the new president and CEO of Irving Oil. He assumes the role on November 1.

Why is Jeff Matthews leaving?

Jeff Matthews is retiring after a 32 year career with Irving Oil. He spent his final two years serving as president and CEO.

What is Operation Osprey?

Operation Osprey is a 235 million dollar refurbishment project currently underway at the Irving Oil refinery in Saint John.

How large is the Saint John refinery?

The Saint John refinery is the largest in Canada. It has a capacity of over 320,000 barrels a day.