**Irving Oil President and CEO Jeff Matthews to Retire in November**
*Saint John, N.B.* – Irving Oil announced that its president and chief executive officer, Jeff Matthews, will retire at the beginning of November. The company said its board of directors has completed a global search for his successor and will announce the new president and CEO at a later date.
Matthews, who has been with Irving Oil for 32 years, was appointed president and CEO in January 2025. Prior to that role he served as chair of the company’s executive management committee, chief financial officer and chief business development officer.
In a statement, Maureen Kempston‑Darkes, lead director of Irving Oil’s board, praised Matthews’ tenure: “Jeff Matthews has dedicated more than three decades to helping build and strengthen our company. His leadership, integrity and commitment to our employees, customers, and communities have positioned the company for continued success.”
Matthews also issued a farewell message, saying, “It has been a privilege to serve as the president and CEO. I have had the opportunity to work alongside exceptional people, and I am proud of all that we have accomplished together.”
The announcement follows a period of strategic review at Irving Oil. In June 2023, the company confirmed it would not sell its New Brunswick operations, a decision made after an 18‑month review that raised concerns about a potential sale of the refinery. Later that year, Arthur Irving, chairman of the board, stepped down from his leadership role, and his daughter Sarah Irving left the executive team. Arthur Irving passed away in May 2024 at the age of 93.
Irving Oil, founded in 1924, operates Canada’s largest crude‑oil refinery in Saint John, New Brunswick. The refinery processes approximately 320,000 barrels of oil per day and exports roughly 80 percent of its product to New England, generating up to $11 billion in annual export revenue. The facility is valued at about $2 billion, according to Bloomberg. Irving Oil also runs more than 900 fueling locations across eastern Canada and New England, a network of distribution terminals, and Ireland’s only refinery, the Whitegate plant in County Cork, which has a capacity of 75,000 barrels per day and is valued at roughly $185.7 million. The company employs approximately 4,000 people.
Irving Oil has not indicated when the new president and CEO will be named.
Article and image source: tj.news
