Irving Oil Appoints Former OMV Chief Alfred Stern as New President and CEO
European energy executive to lead Canada’s largest refinery operator as the New Brunswick company enters its next phase of growth and energy transition.
By: Ebenezer Adugyamfi/ Emmanuel Ayiku for GhanaianNewsCanada September 21, 2026
Canadian energy company Irving Oil has appointed Alfred Stern, the former Chief Executive Officer of Austrian energy giant OMV, as its next President and Chief Executive Officer in a leadership move that signals the company’s ambitions for long-term growth and transformation.
The Saint John, New Brunswick-based company announced that Stern will join Irving Oil on October 1 and officially assume the role of President and CEO on November 1, 2026, following the retirement of Jeff Matthews after a 32-year career with the company.
A global energy leader takes the helm
Alfred Stern brings more than three decades of international experience in the energy, refining and chemicals sectors.
Before joining Irving Oil, he served as Chairman and CEO of OMV AG, one of Europe’s largest integrated energy companies, where he led the company’s transition toward a more diversified portfolio spanning fuels, chemicals and sustainable energy solutions.
Stern previously held senior leadership positions at Borealis, a global chemicals manufacturer, and has served on the boards of several international energy companies.
In a statement, Stern said he was honoured to join Irving Oil at what he described as “an important time in its history.”
“I look forward to building on Irving Oil’s strong foundation by investing in safety, reliability and security of supply to support the company’s long-term, sustainable growth.”
Succeeding a longtime Irving executive
Stern replaces Jeff Matthews, who has led Irving Oil since January 2025 after previously serving as Chief Financial Officer, Chief Business Development Officer and Chair of the Executive Management Committee.
The company said Matthews’ retirement concludes a distinguished 32-year career during which he helped strengthen Irving Oil’s operations and strategic direction.
Irving Oil’s Board of Directors said Stern emerged as the successful candidate following an extensive international executive search.
One of Canada’s largest private energy companies
Founded in 1924, Irving Oil is one of Canada’s largest privately owned energy companies and operates the largest oil refinery in Canada in Saint John, New Brunswick, with a refining capacity of more than 320,000 barrels per day.
The company also owns Ireland’s only oil refinery in Whitegate and supplies fuel through more than 1,000 retail and commercial fueling locations across Eastern Canada, New England and Ireland.
Beyond refining, Irving Oil is a major player in transportation fuels, lubricants, heating products and commercial energy distribution.
A pivotal moment for Canada’s energy sector
Stern’s appointment comes as Canada’s energy industry navigates significant changes, including growing investment in lower-carbon technologies, evolving fuel markets and increasing demands for energy security.
Irving Oil said its focus remains on operating safely and reliably while continuing to invest in infrastructure and the long-term sustainability of its business.
With experience leading one of Europe’s most influential energy companies, Alfred Stern is expected to bring an international perspective as Irving Oil continues expanding its role in North America’s evolving energy landscape.
The leadership transition officially takes effect on November 1, marking the beginning of a new chapter for one of Canada’s most iconic privately owned companies.
