Canexus Corp. CEO Gary Kubera steps down; search for replacement underway

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CALGARY – Canexus Corp. says Gary Kubera has stepped down as CEO of the company, effective immediately.

The Calgary-based chemical producer and oil and gas terminal operator (TSX:CUS) did not provide a reason for Kubera’s departure.

Canexus has begun an international search for a new CEO.

In the meantime, Richard Ott, currently on Canexus’ board of directors, will fill the role.

Kubera’s exit comes less than two months after Canexus announced that its oil-by-rail terminal expansion project in Bruderheim, Alta., would be coming in at 40 per cent over the original estimate of $225 million.

In a Jan. 14 statement, Kubera said he was “disappointed” with the revised cost estimate, but noted Canexus had established a “state-of-the-art facility.”

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