Irving Oil to remain a private company, announces new president

Irving Oil announced Tuesday that it won’t be sold and has named its new president and CEO.

Irving Oil says it won’t be sold after nearly two years of speculation.

The company announced it was undergoing a strategic review process in June 2023, including the possible sale of its assets.

It announced in a Tuesday news release it will remain a privately-held company.

The company has also named Jeff Matthews as its new president and CEO after Ian Whitcomb left the job last year.

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“Matthews brings a deep understanding of our company through his 30 years of working with Irving Oil in roles including Chief Business Development Officer, Chief Financial Officer and most recently, Chair of Irving Oil’s Executive Management Committee,” the news release reads.

Irving Oil operates Canada’s largest oil refinery in Saint John, N.B., and has more than 900 gas stations and distribution terminals across eastern Canada and New England.

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