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Chemical Week Magazine :: Business & Finance :: United States/Americas

Canexus CEO resigns amid cost overrun, share decline

12:35 PM MDT | March 17, 2014 | —Clay Boswell

Gary Kubera, president, CEO, and director of Canexus (Calgary, AB), has resigned, effective immediately, the company announced on 6 March. The move follows news that the company’s crude-by-rail terminal expansion would cost C$90 million (US$81 million) more than expected. Canexus says its board has begun searching for a new president and CEO. Richard Ott, a current director, will assume the function of president and CEO in the interim. Ott will remain a director, but he will temporarily step down from board committees. The company’s stock price has weakened...

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