Richard Kruger Explained

Birth Date:10 March 1959
Birth Place:Minneapolis, Minnesota
Education:University of Minnesota (BEng 1981)
University of Houston (MBA)
Spouse:Patti Kruger

Richard Michael Kruger (born March 10, 1959) is an American business executive presently serving as chief executive officer of Suncor Energy. He is the former CEO, chairman, and president of Imperial Oil, serving from 2013 to 2019. Previously, he served as President of Production and Vice President of Operations for ExxonMobil,[1] having been employed by the company since 1981.[2] [3]

In 2023, Kruger's total compensation was reported as $36.8M at Suncor, despite failing to meet his goal of maintaining a stock price of over $50 a share. In 2018, Kruger's total compensation was $7.8 million on a base salary of $1.2 million. [4]

Born March 10, 1959, he was raised in Richfield, Minnesota. A 1977 Richfield High School graduate,[5] he holds a mechanical engineering degree from the University of Minnesota, and a business administration degree from the University of Houston.

On February 21, 2023, Suncor Energy announced that Kruger had been named its new chief executive officer after a months-long search. Kruger replaced interim Suncor CEO Kris Smith on April 3, 2023.[6]

Notes and References

  1. Web site: List of Public Companies Worldwide . Bloomberg.com . 2016-01-07.
  2. Web site: Imperial Oil Ltd names Exxon veteran Richard Kruger as CEO . Business.financialpost.com . Financial Post / The Canadian Press. 2013-02-21 . 2019-10-09.
  3. Web site: Imperial Oil names Exxon veteran Kruger as CEO . The Star, Reuters . 2013-02-21 . 2019-10-09.
  4. Web site: June 12 . Sharon J. Riley . Read . 2019 9 Min . How Alberta's biggest oil companies are still raking in billions . 2023-08-17 . The Narwhal . en.
  5. Web site: Richard Kruger . Classreport.org . 2013-10-04 . 2019-10-09.
  6. Web site: Suncor announces energy industry veteran Rich Kruger as new CEO . 2023-02-27 . Global News . en-US.