The CEO of Suncor Energy Inc. resigned, one day after the latest fatality at one of the oil sands company’s facilities. The Calgary-based company announced Friday night that Mark Little will step down as president and CEO and step down from the board of directors effective immediately. Kris Smith, who is currently executive vice president of downstream operations, has been named interim CEO. The move comes just months after activist investor Elliott Investment Management LP, a hedge fund, cited the company’s safety record in a shake-up effort at the leading oil sands producer, including an overhaul of the board and management. The death Thursday of a contractor at the Base Mine north of Fort McMurray, Alta., was the second this year at a Suncor facility. Since 2014, at least 12 people have died at Suncor facilities, more than all of the company’s oil sands competitors combined. After the incident, Suncor canceled an oil operations presentation scheduled for next week, which was in part intended to showcase its actions and plans to improve its performance and safety record. Mr. Little said in May that the company had made several changes, including a third-party safety review, bringing in new management and incorporating new fatigue management and collision avoidance technology at its oilfield facilities to reduce risk to workers and contractors. . It is also deploying collision mitigation technology commonly used in the global mining industry throughout its oil sands operations after one worker was killed and two others injured in January when two heavy trucks collided while driving up a mine ramp. Earlier this year, analysts had expressed concern that the death and other operational incidents that have affected production since the start of winter highlighted problems with the company’s track record. The operational incidents – one at the Syncrude mine and the other at the Firebag operation – reduced production by about 195,000 barrels per day in the second half of December. As a result of the cut, total annual production in 2021 was about 1 percent below the company’s target of 740,000 barrels per bay. Suncor said Friday that its board has formed a CEO search committee and is engaging a global executive recruiting firm to assist in that process. “Suncor is committed to achieving safety and operational excellence across our business, and we must recognize where we have fallen short and recognize the critical need for change,” board chairman Michael Wilson said in a statement Friday. “We commend Mark for his professionalism and the outstanding job he has done to guide Suncor through the pandemic and drive our industry’s progressive approach to the energy transition. We thank him for his years of service to the company and wish him every success.” Mr. Little joined Suncor in 2008 as senior vice president of strategic development and energy marketing before becoming senior vice president of integration following Suncor’s merger with Petro‑Canada. Appointed CEO in 2019.
