Canexus announced that Gary Kubera has stepped down from his position as President and Chief Executive Officer and Director of the Corporation, effective immediately.
“We would like to thank Mr. Kubera for his many contributions to Canexus in his role as President and CEO since the company’s initial public offering in 2005,” said Canexus Board Chairman Hugh Fergusson.
The Board of Directors has commenced an international search for a new president and chief executive officer. Until such time as a new president and CEO is appointed, at the request of the Board, Mr. Richard Ott, a current director, has agreed to assume the function of President and Chief Executive Officer on an interim basis. Mr. Ott is a seasoned executive who has served in a variety of senior executive positions largely in manufacturing and human resources in the United States and internationally.
“I look forward to working closely with our management team and employees on the execution of our strategic business plans to drive growth for the Corporation and create shareholder value,” said Mr. Ott.
During the transition period Mr. Ott will remain a director of the company, but will temporarily step down from Board Committees.