Cenovus names new CEO, among other leadership updates

Cenovus Energy Inc.'s Alex Pourbaix will shift to the role of executive chair, and Jon McKenzie, the company’s current executive vice president and COO, will become president and CEO.

These changes will take effect at the conclusion of the company’s annual general meeting (AGM) scheduled for April 26. At the AGM, McKenzie will be nominated for election to the board of directors.

McKenzie has more than three decades of finance and operations experience, primarily in the Canadian oil and natural gas industry. He joined Cenovus in 2018 as CFO and was instrumental in Cenovus's strategic merger with Husky Energy, where he served as CFO from 2015 to 2018.

As executive chair, Pourbaix will be responsible for providing leadership to the board and ensuring ongoing strong governance, while supporting management’s execution of the company’s strategy. Pourbaix also will remain focused on external matters relevant to Cenovus and the industry, including advancement of policy that supports a competitive Canadian energy sector and ongoing leadership with the Pathways Alliance.

After five years as a director, including three as chair, Keith MacPhail, has decided to retire from the Cenovus board as of this year’s AGM.

With Pourbaix taking on the role of executive chair, Claude Mongeau will assume the role of lead director to ensure the board continues to operate independently. Mongeau, a Cenovus board member since December 2016, will also be available to engage with shareholders and other key stakeholders on behalf of the board.

02.16.2023