Imperial CEO says oilsands needs to burnish its image
Claudia Cattaneo, Financial Post Published: Wednesday, March 12, 2008
When Tim Hearn started working at Imperial Oil Ltd. 41 years ago, oil was worth US$1.80 a barrel and natural gas 16¢ per thousand cubic feet.
With oil prices nearing US$110 and gas prices US$10,Mr. Hearn, 64, is retiring on March 31 as CEO and chairman of Imperial, leaving behind a company with no debt and pushing forward some of Canada's largest oil and gas projects. Mr. Hearn will be replaced by Bruce March, 51, an Exxon Mobil Corp. refining executive.