Krueger's head coaching experience comprises a lengthy tenure as coach of the Swiss men's national ice hockey team. That team finished sixth in the 2006 Olympics in Italy. Most of his playing career was in Europe.
He was hired as associate coach for the Oilers in 2010.
"On hockey's world stage, Coach Krueger exhibited his poise and experience behind the bench to help the Suisse Team overachieve in Torino. This is an example of the type of leadership Ralph will bring to Edmonton," General Manager Steve Tambellini said.
Edmonton is coming off a season in which the Oilers went 32-40-10 for 74 points, which was second-lowest in the NHL. Coach Tom Renney was told in May that his contract wouldn't be renewed. He'd coached in Edmonton for two seasons.