Suncor says president and CEO Mark Little has stepped down
Global News
Suncor Energy says Mark Little has stepped down as president and chief executive officer and resigned from the board of directors, effective immediately.
Suncor Energy Inc. chief executive Mark Little has stepped down as president and chief executive officer and resigned from its board of directors just one day after the company announced its oilsands operations have suffered another workplace fatality.
Little’s departure is effective immediately, the Calgary-based energy company said in a release Friday.
“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.
On Thursday, Suncor announced that a contractor had been killed at its Base Mine north of Fort McMurray, Alta., the latest in a string of workplace deaths and safety incidents that have plagued the energy giant. Since 2014, there have been at least 12 deaths at Suncor sites, more than all of its oilsands rivals combined.
READ MORE: Contract worker killed at northern Alberta Suncor site
Little’s departure also comes less than three months after well-known U.S.-based activist investor Elliot Investment Management wrote a letter calling for an overhaul of Suncor’s board and management. Elliot highlighted Suncor’s safety track record, as well as other operational challenges and the company’s lagging share price.
Elliot never launched a formal proxy battle for control of Suncor’s board, and the activist investor has been publicly silent on the energy company since the spring.
Under Little’s management, Suncor announced a series of initiatives aimed at improving safety at the company, including a third-party review and the implementation of new fatigue management and collision avoidance technology.
