US News Activist investor Elliott Investment Management is increasing pressure on NRG Energy and seeking to oust its CEO Mauricio Gutierrez, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Elliott is in talks with potential candidates to replace the U.S. power company’s CEO as well as other top executives, the report said. In a statement
Nasdaq WINNIPEG, Manitoba – The new CEO at Suncor Energy Inc SU.TO, Canada’s second-biggest oil producer that has been dogged by safety and operational problems, said on Tuesday that he would look to cut costs, improve efficiency and simplify operations. “We need to get on with it,” CEO Rich Kruger, a former CEO of Exxon Mobil Corp XOM.N unit Imperial Oil IMO.TO, said on his first call with
World Oil (WO) – Suncor’s board of directors has unanimously selected Rich Kruger to be the company’s next President and Chief Executive Officer, effective April 3, 2023. Mr. Kruger will also join the Suncor Board of Directors. The announcement follows a rigorous global search process conducted by a special committee of the Board. The committee undertook an extensive evaluation of
Reuters RIO DE JANEIRO – For many investors, the appointment of former army general Joaquim Silva e Luna as the new chief executive of Brazil’s state-run oil company Petrobras was unexpected – and unwelcome. President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm is formally known, in a Facebook post in
Reuters RIO DE JANEIRO – Petroleo Brasileiro SA’s chief financial officer and three other top executives decided to leave the state-controlled producer after clashing with plans of the company’s incoming chief executive, a person close to the executives said. Topics of disagreement between the current management and the incoming CEO, retired general Joaquim Silva e Luna, include his plans for
Reuters RIO DE JANEIRO – Joaquim Silva e Luna, the incoming CEO of Brazil’s state-run oil company Petrobras, told Reuters that at least part of the executive board could stay on when he takes over in April, a signal that he is not planning a wholesale shake-up of management. The former defense minister and army general added, however, that at
Reuters RIO DE JANEIRO – The board of Brazilian state-run oil company Petrobras on Tuesday called an extraordinary shareholders’ meeting, a move that all but guarantees the exit of Chief Executive Roberto Castello Branco. In a statement, Petroleo Brasileiro SA, as the company is officially known, said it had called the meeting in response to a request by the nation’s
Bloomberg A sell-off in Brazil’s state-controlled oil firm Petroleo Brasileiro SA picked up on Monday after a group of analysts downgraded the stock within 24 hours, following the government’s decision to replace the company’s chief executive officer. Bradesco BBI, BTG Pactual, Credit Suisse, JPMorgan, Nau Securities, Santander, Scotiabank and XP Investimentos cut their ratings on the shares after Brazilian President
PG&E Announces New Chief Executive Officer and Appointment of a Refreshed Board of Directors; New Leadership Focused on Enhancing Safety Culture and Operational Excellence
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