Cenovus Energy names next leader

GEOFF LEE WRITER

Cenovus Energy will be under new leadership at the end of April with the rollout of an executive succession plan.

Jonathan McKenzie, the current executive vice-president and chief operating officer, will take over the role of president and chief executive officer from Alex Pourbaix, who will shift to the role of executive chair.

The change in positions will take effect following Cenovus’ annual general meeting on April 26.

Pourbaix announced the plan along with the reporting of the company’s 2022 year-end and fourth-quarter results during a conference call on Feb. 16.

“This is something that I’ve been working with the board on for quite some time, ensuring a robust plan for executive succession, including developing strong internal candidates (and it) has been a key focus of mine and the rest of the Cenovus board,” said Pourbaix who has led the company since 2017.

He says his shift to the executive chair is due to spending an increasing amount of time on external issues, including partnering with governments to help Canada meet its climate goals while advocating for the industry.

Specifically, he says he has been consumed by the industry’s Pathways Alliance project to capture and store carbon emissions along with Cenovus’ GHG reduction plan.

“I am a very meaningful part of Pathways discussions with the various levels of government in this country about that,” said Pourbaix during question period.

“And I’ve actually been very, very lucky to have a leadership team like I have that they’ve been able to pick up the slack while I spend an increasing amount of time on that issue.”

McKenzie noted he doesn’t envision any major shift in the company’s direction when he becomes the top executive.

He told a caller he and Pourbaix have worked very closely together over the last five years.

“What I’ve really focused on is running the day-today of the company, where Alex has been more overly focused, particularly over the last period of time, with this involvement in Pathways,” said McKenzie.

He says they have their fingerprints all over the corporate strategy supported by the full leadership team with not much change expected.

“I think it’s – is going to be very similar to what you’ve seen before as we kind of continue on the trajectory that we’ve been on for the last five years,” said McKenzie.

McKenzie was a former chief financial officer for Husky Energy who joined Cenovus in 2018 and was integral in the strategic merger of the two companies in a deal that closed on Jan. 1, 2021.

Pourbaix is just past the halfway of his five to sevenyear-old leadership term, but he thinks McKenzie has earned the right to have a shot at leading Cenovus before he times out.

“I don’t think it would be fair to the shareholders because I think they’re all going to be great beneficiaries of his leadership over the coming years,” said Pourbaix.

“So at the end of the day, I think what’s best for the company and what’s best for the shareholders needs to take a little bit of precedence over what might be best for me.”

CALENDAR OF EVENTS

The Meridian Source Calendar of Events is a free service provided for non-profit organizations located within our coverage area. All events are in chronological order, as space permits and at the editor’s discretion.

Square Dancing Introduction

NEW LOCATION!

Intro to square dancing will be held on Wednesday nights from 6:30-8:30 p.m. at City Church, 511549 Street. Walk to the beat of music by following simple instructions from the caller. Come alone or bring a friend. Wear whatever is comfortable. First evening is FREE!

Bingo at the Moose

The Moose Lodge, located at 5213-57 Street, Lloydminster, hosts bingo nights every Monday and Wednesday. Doors open at 5:30 p.m. and play starts at 7 p.m. The Moose also hosts crib tournaments every second Sunday of the month. Start time is 10 a.m. The cost to play is $10 and lunch is $12.

Cribbage DOUBLES

Tourney

The Legacy Centre is hosting a Cribbage doubles tournament on Feb. 23. Play begins at 10 a.m. and the cost is $10/person. Lunch is also available for $12/

To place an event, email taylor@meridiansource.ca or fax 306-825-5147 person. Everyone welcome. Contact the Legacy office at 780-8754584 for more info.

Facilitator Training

The Walking Through Grief Society is hosting facilitator training for those interested in a volunteer experience with the society. Training will allow facilitating groups, children’s groups and other special groups and will be held on Feb. 25 from 9 a.m.-4 p.m. in Vermilion. Refreshments, lunch and the training are free. To register or for more information contact Shirley at 780871-1750. Deadline to register is Feb. 20.

Cribbage DOUBLES Tourney

The Dewberry Senior Center is hosting a Doubles Cribbage Tournament on Saturday, Feb. 25. Registration begins at 10 a.m. with play starting at 10:30 a.m. Cost is $25 per person, which includes a roast beef noon meal.

Métis Cultural Celebration

The Métis Nation of Saskatchewan

Lloydminster Métis Local #18 is hosting a Métis cultural celebration on Sunday, Feb. 25 from 1-6 p.m. at the Centennial Civic Centre.

Lloydminster Métis Local #18 AGM

The Métis Nation of Saskatchewan

Lloydminster Métis

Local #18 is hosting its annual general meeting on Feb. 26 at 2 p.m. at the Centennial Civic Centre, Lloydminster, Sask. A meal and enter -

LETTER FROM PAGE 10

This government has supervised the decline in education funding from the level where our investment in education was the highest in the country to the level where it is the lowest.

Our medical system is struggling because this government has tainment will follow the meeting.

Pancake Breakfast

The Legacy Centre is hosting a pancake breakfast on Feb. 26 from 9-11:30 a.m. Cost is $12/person at the door. ($6/12 and under). Everyone welcome! Contact the Legacy office at 780875-4584 for more info.

Cribbage Tourney

There will be a cribbage tournament at the Hillmond Hall on Feb. 26. Start time is 11 a.m. (Lloydminster time), and lunch will be served at noon. Every - failed to adequately fund it to keep staffing at levels that allow the system to operate smoothly. one welcome!

Since the health system is staff–dependent, it will be years before we can hire and train sufficient staff to overcome the deficits incurred by underfunding.