Arthur Irving no longer chair of Irving Oil, fuels more speculation about N.B. company's future

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Arthur Irving’s family got two thirds of ownership in Irving Oil when the conglomerate was split.

Arthur Irving is no longer in his leadership role at Irving Oil and his daughter, Sarah Irving, is no longer part of the leadership team, according to the company's website, fuelling further speculation about the future of one of New Brunswick's largest employers.

Company spokesperson Katherine d'Entremont has not responded to requests Tuesday and Wednesday for comments."No decisions have been made about where this strategic review may lead," Arthur Irving, Sarah Irving and Irving Oil president Ian Whitcomb, said in a statement last June, when the strategic review was announced.

"Considerations will be given to a new ownership structure, a full or partial sale, or a change in the portfolio of our assets and how we operate them," they said.Premier Blaine Higgs, a former Irving Oil executive, who worked for the company for more than 30 years, told CBC Wednesday he is surprised and saddened by news of the leadership changes.

Founded in 1924 by Arthur's father, K.C. Irving, Irving Oil operates Canada's largest refinery in Saint John, which processes about 320,000 barrels a day and is New Brunswick's largest greenhouse gas emitter.

 

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