The board of directors of Genesis Land Development Corp. announced that Mr. Bruce Rudichuk has left the company as President and Chief Executive Officer effective immediately. In addition, Mr. Mark Scott has left the company as Executive Vice President and Chief Financial Officer effective immediately.

The board of directors of the company has appointed Stephen J. Griggs as the interim Chief Executive Officer effective immediately. Mr. Griggs has been a director and the Chair of the Board since mid-2013, and is also the Chief Executive Officer of Smoothwater Capital Corporation, the shareholder of the company. Mr. Griggs has been the CEO or Chief Operating Officer of several Canadian businesses over the last 20 years, and is a member of the Law Society of Upper Canada.

Directors Stephen Griggs, Iain Stewart and Steven Glover (also the Lead Director) will oversee the transition of management, ensure the company is positioned to deal with Calgary's volatile economy and undertake a process to identify qualified candidates for the roles of permanent CEO and CFO.