Four Cenovus Energy Inc. senior executives in charge of crucial assignments are leaving the company as the oil sands firm restructures responsibilities for its top bosses.

The energy outfit on Tuesday promoted three senior employees to replace the outgoing executives. Cenovus eliminated the chief operating officer role as part of the management shuffle. Brian Ferguson, Cenovus's chief executive officer, said the four departing executive vice-presidents chose to retire and informed him of their plans a year ago.

Cenovus, which has cancelled a string of expansion projects as it tries to cope with low energy prices, said its COO; general counsel and corporate secretary; head of its environment and corporate affairs division; and the leader of Cenovus's strategy and organization development will hand over their responsibilities over the year. Their roles range from managing the company's government relations, regulatory affairs and relationships with First Nations, to leading all of Cenovus's upstream projects and environmental strategy.

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These are substantial roles for oil sands companies across the board, and the departures come as energy firms brace for regulatory changes as Alberta's newly elected New Democratic Party takes over the legislature. The oil and gas industry is lobbying hard to meet new members of the legislature in hopes of persuading them to resist dramatic changes. This means Cenovus's executive team will be navigating its transition process just as the government prepares to rewrite Alberta's rules – both financial and regulatory – for the energy industry.

Mr. Ferguson shrugged off this extra layer of complexity, noting the promoted employees are senior Cenovus executives. "These are people who are very knowledgeable about the company, very knowledgeable about our industry," he said in an interview. Mr. Ferguson will remain in the company's top spot. "If you ask my wife, I think she says I'm on [a] Freedom 95" plan.

Michael Dunn, director of institutional research at Calgary's FirstEnergy Capital Corp., assumes the mass exodus is part of an intended succession process. "The responsibilities of the new people are spread out a little bit different, so all that suggests to me this was planned well in advance."

John Brannan, Cenovus's COO, will transition out of his role in September, Cenovus said. Cenovus is essentially splitting the COO job into two: a leader responsible for its upstream operations and another for its downstream projects. It is still searching for someone to head its upstream division.

Kerry Dyte, the company's general counsel and corporate secretary, will make his transition in December. He is responsible for the company's legal work, corporate governance and internal auditing. Sheila McIntosh leads the firm's environment and corporate affairs division. She will shift away from her job in September. Ms. McIntosh handles the company's government relations, regulatory affairs, environment strategy and its relationship with First Nations. Hayward Walls, who is in charge of strategy and organizational development, will move away from his role in July. He is responsible for "strategic planning," human resources and information technology.

The income executive vice-presidents sport new titles and will oversee different aspects of the company. Jacqui McGillivray will be in charge of "safety and organizational effectiveness." Al Reid, now in charge of the Christina Lake and Narrows Lake oil sands projects, has been appointed to head the "environment, corporate affairs and legal" division. Drew Zieglgansberger will lead the "oil sands manufacturing" division.