Irving Oil president to step down as company undergoes strategic review

Irving Oil president Ian Whitcomb says he has made a ‘personal decision’ to step down from his position after eight years in the job. The Irving Oil Refinery is seen in Saint John, N.B., on Tuesday, Jan. 29, 2019. THE CANADIAN PRESS/Andrew Vaughan

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 take over Whitcomb’s position during the strategic review.

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.

News from © The Canadian Press, 2024. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

• 0084 EMP Metals Pipeline Online
  0084 EMP Metals Pipeline Online
• 0053 Kingston Midstream Westspur Alameda Click
  0053 Kingston Midstream Westspur Alameda Click
• 0082 CsHM 2024 Pipeline
  0082 CsHM 2024 Pipeline
• 0077 Caprice Resources Stand Up For Free Speech
  0077 Caprice Resources Stand Up For Free Speech
• 0076 Latus only
  0076 Latus only
• 0061 SIMSA 2024 For Sask Buy Sask
  0061 SIMSA 2024 For Sask Buy Sask
• 0055 Smart Power Be Smart with your Power office
  0055 Smart Power Be Smart with your Power office
• 0051 JML Hiring Pumpjack assembly
  0051 JML Hiring Pumpjack assembly
• 0049 Scotsburn Dental soft guitar
  0049 Scotsburn Dental soft guitar
• 0046 City of Estevan This is Estevan
  0046 City of Estevan This is Estevan
• 0041 DEEP Since 2018 now we are going to build
  0041 DEEP Since 2018 now we are going to build
• 0032 IWS Summer hiring rock trailer music
• 0022 Grimes winter hiring
• 0021 OSY Rentals S8 Promo
• 0018 IWS Hiring Royal Summer
• 0013 Panther Drilling PO ad 03 top drive rigs
• 0011
• 0006 JK Junior
• 0002 gilliss casing services
  0002 gilliss casing services
• 9002 Pipeline Online 30 sec EBEX
  9002 Pipeline Online 30 sec EBEX
• 9001