The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Oil derricks are silhouetted against the rising sun on an oilfield in Baku, Azerbaijan, Jan. 24, 2013.
Oil derricks are silhouetted against the rising sun on an oilfield in Baku, Azerbaijan, Jan. 24, 2013.
(David Mdzinarishvili/Reuters)

Resignations cloud Sunshine Oilsands’ future

The future of Sunshine Oilsands Ltd., the struggling Alberta bitumen developer, has become cloudier with the resignation of two directors, including the company’s founder.

Sunshine, which is backed by a large group of Chinese investors, said Songning Shen and Wazir Chand Seth resigned from the board effective Monday. Their exits follow those of former chief executive John Zahary and chief financial officer Robert Pearce in December.