In his final week on the job, Irving Oil’s outgoing president and CEO says the company has “very solid foundation” ahead of new leadership taking over the Saint John-based company. After 32 years with the company, the last two as president and CEO, Jeff Matthews is set to retire come weeks end. European energy executive Alfred Stern is set to assume the lead role effective Nov. 1. Speaking with reporters at an unrelated announcement Monday, Matthews was asked what the community can expect with new leadership set to take over the helm. “The company’s over 100 years old now, and so it’s got a very solid foundation,” Matthews told reporters. “We continually have had leadership changes over the years as people sort of move on into their next phases of their life, so this is no different.” “We’ve found a very good replacement. Alfred Stern is joining the company and has been on the ground with us now for three to four weeks, and he’s going to do a great job. It’s our employee base that really drives our company, and we’ve got just such an incredible group of employees that work here, that live here, that really care about the community that they’re part of, and that’s really what drives our business in the right direction.” Matthews stepped into the senior leadership position following a strategic review of Irving Oil in January of 2025. He had previously served the private company as chief business development officers, chief financial officers, and chair of Irving Oil’s Executive Management Committee. While Stern declined to speak with reporters Monday, in a press release announcing his appointment in September he said it was an honour to join the oil company during “an important time in its history.” “For over a century, this company has been guided by its commitment to employees, customers, businesses and communities,” Stern says in the September statement. “I look forward to meeting our teams, partners and customers across Eastern Canada, New England and Ireland, learning from them and building on the company’s strong foundation by investing in safety, reliability and security of supply, to support Irving Oil’s long-term, sustainable growth.” Irving Oil’s Saint John refinery is the largest in Canada, with a capacity of over 320,000 barrels a day. The refinery is currently in the midst of a $235 million refurbishment named Operation Osprey. For more New Brunswick news, visit our dedicated provincial page.
