Crescent Point Energy Corp. announced the appointment of Craig Bryksa as President and Chief Executive Officer, and the appointment of Robert (Bob) Heinemann as the new Chairman of the Board. Peter Bannister has stepped down as Chairman of the Board with Mr. Heinemann assuming the role. Mr. Bannister and, Gerald Romanzin, will each be retiring from the Board at the company's 2019 annual general meeting. Following the company's 2019 AGM, Crescent Point's Board will have undergone a complete renewal since inception.

As part of the company's cost reduction initiatives, Crescent Point announced that it is finalizing an organizational restructuring that includes an immediate workforce reduction of approximately 17% of employees. The company expects this realignment to provide annual savings of over $50 million through reductions in both operating and general and administrative expenses.