FREDERICTON – 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 says 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.
Jeff Matthews, chief financial officer of Irving Oil, will take over Whitcomb’s position during the strategic review.
Maureen Kempston-Darkes, lead director of Irving Oil’s board of directors, says Matthews has been with the company for more than 29 years and understands the evolving needs of customers and communities.
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.
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 and whether there will be changes in its portfolio of assets and how it operates them.
This report by The Canadian Press was first published Feb. 26, 2024.