Suncor Energy announces CEO transition

• Mark Little to step down, effective immediately
• Kris Smith appointed Interim CEO
• Board begins global search for next CEO

Calgary, Alberta – Suncor (TSX: SU) (NYSE: SU) announced on July 8 2022 that the Board of Directors and chief executive officer Mark Little have mutually agreed that Mr. Little will step down as president and chief executive officer and resign from the Board, effective immediately. Kris Smith, who is currently executive vice president, Downstream, has been named Interim CEO.

Suncor’s Board has formed a CEO search committee to conduct a global search to select the company’s next CEO and is engaging a global executive recruiting firm to assist with this process. External and internal candidates will be considered for the role.

“Suncor is committed to achieving safety and operational excellence across our business, and we must acknowledge where we have fallen short and recognize the critical need for change,” said Board Chair Michael Wilson. “We commend Mark for his professionalism and the exceptional work he did to guide Suncor through the pandemic and lead our sector’s progressive approach to the energy transition. We thank him for his years of service with the company and wish him well.”

“Kris is an accomplished executive with 22 years of experience across our business,” added Mr. Wilson. “He is a highly capable leader and has the Board’s full confidence to serve as Suncor’s Interim CEO.”

Prior to becoming EVP, Downstream, Kris was senior vice-president of Supply, Trading and Corporate Development and held several executive roles in Oil Sands.