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Sunshine Oilsands Announces Resignation of CEO, CFO

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Sunshine Oilsands Announces Resignation of CEO, CFO

Sunshine Oilsands has announced senior management changes.

Senior Management Changes

Resignations

The Board of Directors has accepted the resignations of John Zahary, President and Chief Executive Officer and of Robert Pearce, Chief Financial Officer.

Interim President & CEO Appointment

Sunshine’s Co-Chairmen, Michael Hibberd and Songning Shen, have announced that David Owen Sealock has assumed the position of interim President and Chief Executive Officer.

Michael Hibberd and Songning Shen said: “This appointment was supported unanimously by the Board of Directors based on the leadership, enthusiasm and initiative shown by Mr. Sealock in moving forward Sunshine’s key strategic and corporate initiatives.”

Mr. Sealock has been an executive officer of Sunshine since June 2008, most recently holding the position of Executive Vice President, Corporate Operations. Mr. Sealock was educated in business, engineering and information technology. He has extensive experience in all aspects of development and execution of business strategies. He also has significant experience in operations and in Engineering, Procurement and Construction Management. He holds a bachelor degree in Business Management and is a Registered Engineering Technologist.


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