08:25 AM EST, 02/13/2025 (MT Newswires) -- Imperial Oil ( IMO ) edged down in pre-market New York trading after the company on Thursday said chief executive Brad Corson will retire from the post following the company's May annual meeting.

The oil producer and refiner, 70% owned by Exxon Mobil ( XOM ) , appointed John Whelan as president on Thursday and he will assume Corson's other roles as chief executive and board chair following the May 8 meeting.

Whelan joined Exxon Mobil ( XOM ) in 1988 and served in technical, project, operations, commercial and management positions in Canada, the United States and Norway. He moved to Imperial Oil ( IMO ) in 2013, where he became senior vice president, Upstream and was responsible for the company's oil-sands operations, but was most recently Exxon Mobil Upstream's senior vice president, responsible for the company's conventional and heavy oil global business lines.

"John brings extensive experience at both Imperial and on global Exxon Mobil ( XOM ) portfolios to successfully deliver exceptional operational performance and enhanced competitiveness, which will build on this strong momentum and continue to grow shareholder value going forward, and we welcome him back to Imperial," lead director David Cornhill said in a release.

Imperial shares were last seen down US$0.08 to US$70.40 pre-market. They fell $0.86 to $100.66 Wednesday on the Toronto Stock Exchange.