Irving Oil president to step down as company undergoes strategic review
The president of Irving Oil is stepping down as the company undergoes a strategic review that includes the possible sale of the business.
A news release Monday said Ian Whitcomb has made a "personal decision" to leave after more than eight years on the job, and will continue in his role until June 9.
Chief financial officer Jeff Matthews will lead a strategic review of the company.
Maureen Kempston-Darkes, lead director of Irving Oil's board of directors, said Matthews has been with the company for more than 29 years and understands the evolving needs of customers and communities.
The company has said its strategic review will consider whether the business will be given a new ownership structure, be sold in part or in full or whether there will be changes in its portfolio of assets and how it operates them.
"The strategic review of the company is ongoing and outcomes associated with it are not yet clear," Kempston-Darkes said in the news release.
Irving Oil operates Canada's largest oil refinery, and has more than 900 gas stations and a network of distribution terminals throughout the East Coast and New England.
There have been other changes in the company's leadership: the website shows Arthur Irving as chairman emeritus, and his daughter, Sarah Irving, who was executive vice president and chief brand officer, is no longer listed. When the strategic review began in June, Arthur Irving was chairman.
New Brunswick Premier Blaine Higgs held numerous positions at Irving Oil in Saint John, until his retirement in 2010 when he stepped down as director of logistics and distribution.
This report by The Canadian Press was first published Feb. 26, 2024.
For more New Brunswick news visit our dedicated provincial page.
Correction
In a previous version of this article, the Canadian Press erroneously reported that the company's chief financial officer, Jeff Matthews, would replace Ian Whitcomb. In fact, Matthews will be leading the strategic review of the company.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6903244.1716897063!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
BREAKING Scotiabank suffers direct deposit outage on pay day
Scotiabank has acknowledged technical difficulties affecting direct deposits as clients report missed payments Friday morning. On Friday morning, the bank's client services phone line was playing an automated message assuring customers that work was underway to rectify the outage.
BREAKING Canada Soccer head investigating 'systemic ethical shortcoming' amid spying scandal
Canada Soccer chief executive officer Kevin Blue said he was investigating a potential 'systemic ethical shortcoming' within the program but has not considered pulling the women's soccer team from the Paris Olympics due to a drone spying scandal.
Suspected train sabotage, bad weather dampen spirits ahead of Paris opening ceremony
The Paris Olympics are getting off to a rough start, with suspected acts of sabotage targeting France's flagship high-speed rail network.
Elon Musk's estranged daughter calls out his 'entirely fake' claims about her childhood
Vivian Jenna Wilson, Elon Musk's estranged daughter, publicly refuted several recent anti-trans statements her Tesla CEO and X owner father has made about her.
'She led it the whole way': 18-year-old B.C. woman leads hikers to safety in Jasper National Park
As fire threatened people in Jasper National Park, Colleen Knull sprung into action.
'Catastrophic' situation 'cannot continue': Open letter from Trudeau, other PMs calling for Gaza ceasefire
Prime ministers of Canada, New Zealand and Australia released a letter renewing calls for an “urgent ceasefire” in Gaza on Friday morning.
Arson attacks cause chaos before start of Olympics in Paris, thwarting athletes' travel
Arsonists attacked the French high-speed rail network early Friday, paralyzing travel to Paris from across the rest of France and Europe for some 800,000 people, including Olympic athletes heading to the grand opening ceremony of the Games in the evening.
Saskatchewan First Nation lifts 17-year long water advisory
After 17 years, residents of Star Blanket Cree Nation can breathe a sigh of relief when turning on their taps.
Latest updates on wildfires in Jasper National Park: Rain, cooler weather limiting spread
Cool and wet weather is making a difference in Jasper National Park.