Oilsands succession plan — Pourbaix to step aside as Cenovus CEO Column by ChrisVarcoe yyc
The all-stock transaction turned Cenovus into a large integrated producer with upstream oil and gas production, and downstream refining and marketing assets in North America.Article content
“It’s not lost on me, Jon and I aren’t too far apart in age,” he said. “And if I were to decide to stick around for another two or three years, I could really put Jon in a situation where he might ‘time out’ and not be able to have a good run at leading the company.” More recently, Pourbaix has been at the forefront of the Pathways Alliance’s efforts to reach net-zero emissions.He’s pressed for federal and provincial incentives as the group looks to embark on building a large-scale carbon capture, utilization and storage network in Alberta that’s estimated to cost $16.5 billion.
“You also have to say, he’s been an eloquent and reasoned advocate for the Canadian energy industry.” “Jon’s fingerprints are on the strategy, too, and he’s part of the whole success of turning Cenovus around,” said analyst Phil Skolnick of Eight Capital.Article content
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