Irving Oil has announced that the company will not in fact be up for sale, a possibility the company has raised nearly two years ago.
Company announced new CEO and decision to remain a private company
Sam Farley · CBC News
· Posted: Jan 14, 2025 6:18 PM EST | Last Updated: January 14
In an announcement late Tuesday, Irving Oil announced it will not be sold after all, despite raising the possibility almost two years ago. (Mike Heenan/CBC)
Irving Oil has announced the company will not be put up for sale, a possibility it had raised in 2023.
“We are pleased to confirm Irving Oil will remain a privately held company, and we remain as committed to our people, our customers and our communities today as ever before,” a news release from the company late Tuesday afternoon said.
Irving Oil initially announced a strategic review in June 2023 and said options such as the sale of the company or a new leadership structure would be considered.
Tuesday’s announcement said the company has completed the strategic review process with the appointment of Jeff Matthews as president and CEO.
Matthews has worked for the company for 30 years as chief business development officer, chief financial officer and chair of the executive management committee, the release said.
Jeff Matthews, pictured on the Irving Oil website as part of the company’s leadership team, » Read More
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