|  |
Imperial Oil announces the appointment of a new CEO and the election of the board of directors at its annual meeting
| Toronto, ON, April 23, 2002
| The board of directors of Imperial Oil Limited today announced the appointment of Timothy J. Hearn to the position of chairman, president and chief executive officer of the company. Mr. Hearn will add the responsibilities of chairman and chief executive officer to his current duties as president of the company. He replaces Robert B. Peterson who announced his intention to retire earlier this year after 41 years of service.
In addition, at the annual meeting of shareholders in Toronto earlier today, the following were elected directors of the company:
- P. Des Marais II
- B.J. Fischer
- T.J. Hearn
- R. Phillips
- P.A. Smith
- S.D. Whittaker
- K.C. Williams
- V.L. Young
At the meeting, the shareholders of the company also approved a resolution for the adoption of a stock option plan to replace the company's current incentive share unit plan. The replacement stock option plan brings Imperial's long-term incentive compensation plan in line with common Canadian competitive practice. The plan will be effective after receiving final approval from the Toronto Stock Exchange.
|
| |  |
|
