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Analysts do not count on the corporate’s technique to alter underneath new CEO Brendan McCracken
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Doug Suttles, the chief government officer of Denver-based Ovintiv Inc., is ready to retire on August 1, the corporate introduced on Tuesday. He will likely be changed by present president Brendan McCracken, who has been with the corporate for 25 years.
Suttles took over the corporate, then referred to as Encana Corp., in 2013, and presided over a transformative interval within the firm’s historical past. He relocated Encana — probably the most storied corporations within the Canadian oilpatch — from Calgary to Denver, and adjusted its identify to Ovintiv.
Analysts don’t count on the corporate’s technique to alter underneath McCracken.
“We don’t count on to see a change within the firm’s technique with Mr. McCracken on the helm, which has been primarily targeted on accelerating debt discount ($4.5 billion complete debt goal by 1H/22) and driving efficiencies throughout its core asset base,” stated Travis Wooden, an analyst at Nationwide Financial institution Monetary.