Crescent Point Energy announced Tuesday that Craig Bryksa is stepping in as interim president and CEO.

Bryksa, who was most recently VP of Engineering West at the company, is taking over after Scott Saxberg’s abrupt exit as a director and CEO.

In a release, the Board of Directors said it “would like to express its gratitude to Mr. Saxberg” for his “significant contributions” to the company.

“I’m proud of what Crescent Point has accomplished,” Saxberg said in a release.

“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 is an engineer who has been with the company for 12 years and oversaw a number of operating activities.

Crescent Point recently survived a clash with an activist. Its stock has tumbled 18.6 per cent over the last year.