Crescent Point Energy CEO to step down after 15-year tenure

Calgary-based Crescent Point Energy has announced that Scott Saxberg, CEO and President of the company, has taken the decision to step down after more than 15 years as Chief Exec.

Crescent point has announced the leadership changes as part of an overriding transformation plan, with Saxberg set to be replaced by Craig Bryska who will assume the role of interim President and CEO of the company.

See also:

• KPMG: 94% of Canadian CEOs are confident about growth

• Canada Infrastructure Bank appoints new CEO

• CEO of Toronto-based Detour Gold to step down

“I’m proud of what Crescent Point has accomplished,” said Mr. Saxberg. “We built a company from scratch to over 180,000 boe/d and in doing so, we have rewarded our shareholders with $7.5 billion in dividends.

“After 15 years as the CEO, it’s time for me to move on and I’m confident and excited for Craig and the team to oversee Crescent Point’s long-term success.”

Bryska previously stood as Crescent Point’s Vice President of Engineering West, having held a number of senior positions throughout the company throughout his 12-year history with the firm.

As part of this transformation plan, the Board of Directors has committed to prioritising key value drivers that include reducing costs and improving capital allocation, with the overarching goal of improving Crescent Point’s financial situation.