Suncor Energy announces retirement of Chief Financial Officer

Rhea-AI Summary

Suncor Energy (TSX: SU / NYSE: SU) announced that CFO Kris Smith will retire on December 31, 2025 after more than 25 years with the company.

Effective November 1, 2025, Kris will move to an executive advisory role to support transition. Troy Little, currently SVP External Affairs and a CPA and CFA with over 25 years of financial experience, will be appointed CFO and assume responsibility for controllers, treasury, tax, internal audit, enterprise risk management and information technology. Adam Albeldawi will become CHRO and SVP, External Affairs, adding Investor Relations, Government Affairs and Public Affairs to his remit.

Positive

• Planned succession: outgoing CFO to advisory role Nov 1–Dec 31, 2025
• Successor Troy Little brings 25+ years of financial experience and investment-community relationships
• Consolidation: CHRO Adam Albeldawi adds Investor Relations and Government Affairs roles

Negative

• CFO departure is definitive on Dec 31, 2025, creating a leadership change
• CHRO role expanded to include Investor Relations and Public Affairs, increasing role scope

Calgary, Alberta--(Newsfile Corp. - October 14, 2025) - Suncor Energy (TSX: SU) (NYSE: SU) announces that Kris Smith, the company's Chief Financial Officer, will retire on December 31, 2025, after more than 25 years of service. During his tenure at the Company, Kris has held several roles prior to his current role, including Executive Vice President, Downstream and Interim Chief Executive Officer.

"Kris' dedication to Suncor has contributed significantly to our success and I would like to both congratulate and thank him on behalf of the Company, our employees and the Board of Directors," said Rich Kruger, Suncor's President and Chief Executive Officer. Added Kruger, "One of the major drivers behind Suncor's industry leading performance over the past few years is its strong executive leadership team and the disciplined approach to succession planning underpinning it. The Company takes a deliberate, long-term and proactive approach to ensuring that it has multiple high-quality candidates available for each executive role to continue to drive both high performance and further institutionalize our strong performance-based culture."

As a result, effective November 1, 2025:

Kris Smith will take on an executive advisory role at the Company to ensure a smooth transition leading up to his retirement at year-end.

Troy Little, currently Senior Vice President, External Affairs, will be appointed Chief Financial Officer. He will be responsible for all financial functions including controllers, treasury, tax, internal audit and enterprise risk management as well as information technology. Troy is a Chartered Professional Accountant and Chartered Financial Analyst and has over 25 years of financial experience gained in investment banking, equity research, accounting and financial management. "We are pleased to have Troy step into this important role, bringing with him deep relationships with the investment community as well as a sharp focus on performance," said Rich Kruger.

Adam Albeldawi, currently Suncor's Chief Human Resources Officer (CHRO), will be appointed CHRO and SVP, External Affairs and will take on the additional responsibilities of Investor Relations, Government Affairs and Public Affairs. Prior to his current position, Adam advanced through a wide variety of roles within the company with increasing scope and accountability, in both the upstream and downstream businesses. "Over the past nearly 20 years, Adam's operational, commercial, and performance-oriented success record reflects his broad experience, his commitment to excellence, and his overall understanding of Suncor and the energy sector," said Rich Kruger.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the U.S.; and the company's Petro-Canada^TM retail and wholesale distribution networks (including Canada's Electric Highway^TM, a coast-to-coast network of fast-charging EV stations). Suncor is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

For more information about Suncor, visit our website at suncor.com.

Media inquiries:
(833) 296-4570
media@suncor.com

Investor inquiries:
invest@suncor.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270412

FAQ

When will Suncor CFO Kris Smith officially retire from SU?

Kris Smith will retire effective December 31, 2025.

Who becomes Suncor CFO and when will the appointment of SU CFO take effect?

Troy Little will be appointed CFO effective November 1, 2025 and will assume full financial responsibilities.

What transitional role will Kris Smith hold at Suncor between November and December 2025?

Kris Smith will serve in an executive advisory role at Suncor from November 1, 2025 until his retirement on December 31, 2025.

What additional responsibilities will Adam Albeldawi take on at Suncor (SU) after the reorganization?

Adam Albeldawi will become CHRO and SVP, External Affairs and will add Investor Relations, Government Affairs and Public Affairs to his responsibilities.

What financial functions will new Suncor CFO Troy Little oversee at SU?

Troy Little will oversee controllers, treasury, tax, internal audit, enterprise risk management and information technology.