The company has undergone a significant overhaul since CEO Rich Kruger took over the leadership at Suncor last year
reported its second-highest level of production ever and a record-high dividend per share last year after several years of lacklustre performance that had made it a target for activist shareholders in 2022.
Elliott also took issue with Suncor’s safety record, pointing to the fact 12 employees and contractors had died working at Suncor sites since 2014.one day after another fatality at one of the company’s oil sands facilities. Mr. Kruger has said Suncor would focus on safety, reliability and profitability. That has included eliminating around 1,500 jobs not aligned with Suncor’s priorities which he said will save the company $450-million per year. Suncor also sold its assets in the North Sea and its renewable power business for a combined $1.8-billion, and purchased its remaining interests in the Fort Hills oil sands mine in Northern Alberta for $2.2-billion.
Two shareholder proposals were put to the vote, coming from opposite perspectives on the response to climate change.
Suncor Company Suncor Elliott Share Climate Meeting Dividend IPC Elliott North Sea
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