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Connacher CEO resigns

The CEO of the Connacher oil sands company resigned Thursday.

Richard Gusella had been with the company for more than a decade, but was recently at odds with investors who wanted to see a sale of the company.

Just over a week ago, Gusella had fired three top executives and rejected a sale offer from.

Connacher recently suspended its search for a joint venture partner for its Great Divide oil sands property.

Its stock has gone down almost forty percent over the past year.

Two existing directors are being promoted to co-manage the company.