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Imperial Oil Limited announces executive appointments
| Toronto, ON, January 25, 2002
| R.B. (Bob) Peterson, currently chairman and chief executive officer of Imperial Oil Limited, has announced his intention to retire following the company's annual meeting of shareholders on April 23, 2002. Mr. Peterson has more than 41 years of service with the company.
It is anticipated the Board of Directors of Imperial Oil Limited will appoint T.J. (Tim) Hearn, currently president of Imperial Oil Limited, to succeed Mr. Peterson as chairman, president and chief executive officer of Imperial Oil Limited at that time.
The Board of Directors of Imperial Oil today elected P.A. (Paul) Smith, as a director of the company effective Feb. 1, 2002, coincident with his appointment as controller and senior vice-president of finance and administration, Imperial Oil Limited. Mr. Smith replaces P.T. (Patrick) Mulva who has returned to Exxon Mobil Corporation as vice-president, investor relations and corporate secretary.
Mr. Peterson, born in Regina, Saskatchewan, is a graduate of Queen's University. He joined Imperial Oil in 1960 and became a director of the company on Oct. 1, 1984, assuming the position of president and chief operating officer in 1988. Mr. Peterson became chairman and chief executive officer of Imperial Oil in 1992.
Mr. Peterson is past chairman of The Conference Board of Canada, a director of the Royal Bank of Canada and the C.D. Howe Institute, and a governor of Junior Achievement of Canada.
Mr. Hearn, born in Regina, is a graduate of the University of Manitoba. He joined Imperial Oil as a marketing representative in 1967 and held progressively more responsible management positions in marketing, logistics, and systems and computer services. He was named vice-president, marketing retail for Imperial in 1986 and vice-president, marketing retail and commercial business in 1990.
In 1992, Mr. Hearn accepted an assignment as worldwide vice-president of intermediates for Exxon Chemical Company. From 1994 to 1997, he served as president of Exxon Chemical Asia Pacific based in Singapore.
In 1997, Mr. Hearn served as executive assistant to the chairman of Exxon until his appointment as vice-president of human resources for Exxon Corporation in 1998. Following the merger of Exxon Corporation and Mobil Oil in late 1999, he was appointed vice-president of human resources for Exxon Mobil Corporation.
Mr. Smith, born in Toronto, Ontario, is a graduate of the University of Toronto. He joined Imperial Oil in 1980 and has held a variety of financial positions within the company. In 1990, he was appointed Cold Lake heavy oil plant manager and in 1992, national marketing manager for Imperial's branded associate business. Mr. Smith served as controller for Imperial Oil from 1994 until his appointment in 1996 as assistant controller of Exxon Corporation International. Since 1997, Mr. Smith has served as corporate finance manager for Exxon Corporation, now Exxon Mobil Corporation.
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