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BEACON, N.Y. (AP) — The executive director of New York’s Hudson River environmental conservation group founded by the late folk singer Pete Seeger has resigned.

The Hudson River Sloop Clearwater says Peter Gross announced his resignation Wednesday, a week after he said the Beacon-based nonprofit organization was cancelling its annual music festival this year because of financial difficulties.

Gross, executive director since May 2014, said he was resigning over “significant differences” on how best to handle the group’s finances and other issues.

Gross announced last week that the two-day concert held in June at a riverside park was being called off because the organization couldn’t risk losing money on the event when it’s focusing its finances on renovating the Clearwater.

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A search for a new executive director won’t be launched until the end of summer at the earliest.