Bruce March is on the way out as CEO at Imperial Oil (IMO -0.8%), likely related to cost...

|About: Imperial Oil Ltd (IMO)|By:, SA News Editor

Bruce March is on the way out as CEO at Imperial Oil (IMO -0.8%), likely related to cost overruns at the Kearl oil sands mine after he laid the groundwork for a big expansion of IMO's oil production; the latest $2B overrun was announced just this month. Richard Kruger, currently president of ExxonMobil Production Co, will take over at IMO on March 1; Exxon owns a 69.6% stake in IMO.