Interim president and CEO of Calgary-based Sunshine Oilsands David Sealock resigned Monday.

His resignation is effective immediately.

Sealock joined Sunshine in 2008 and has served as interim president and CEO since December 2013.

Executive chairman Michael Hibberd has assumed direct responsibility for all CEO tasks and functions.

Hibberd is a co-founder of Sunshine and has been co-chairman since October 2008.

Hibberd is currently the president and CEO of UK-based corporate finance advisory firm MJH Services. He also serves as chairman at Calgary-based Heritage Oil, Calgary-based Canacol Energy and Houston-based Greenfield Petroleum.

Sunshine has formally retained an executive search firm to help identify and select a candidate for the permanent president and CEO position.

“Sunshine is in a very strong position to complete the West Ells project based on deliverables achieved during the last nine months,” Sealock said in his resignation letter.

In 2013, Sunshine’s president and CEO John Zahary and CFO Robert Pearce resigned as the company faced growing cash flow problems and lawsuits for $94 million in unpaid bills, the Globe and Mail said.

Sunshine also appointed Songbo Cong as its senior vice president of engineering Tuesday.

The appointment is effective immediately.

Cong has been Sunshine’s vice president of special projects since June 2013.

He has also served as Sunshine’s vice president of facilities engineering and as a director.

Sunshine is an oil sands development company. It currently holds proved reserves of 79 million barrels and proved plus probably reserves of 444 million barrels.


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