MONTREAL — Wood-products producer Stella Jones Inc. says company president and CEO Brian McManus will step down later this year after 18 years at the company.
The company’s share price was down almost seven per cent in midday trading on the Toronto Stock Exchange after announcing the news.
Stella-Jones says McManus will leave his post on October 11 and will work with management on the leadership transition.
The Montreal-based company says senior vice-president and chief financial officer Eric Vachon, who’s been with the company for 12 years, will serve as interim CEO until a permanent replacement is found.
The company, which did not state a reason for McManus’ departure, reaffirmed its guidance for the year.
Stella-Jones, which has some 2,000 employees and more than 35 plants, is a major producer of a range of pressure-treated wood products including railway ties and utility poles.
Companies in this story: (TSX:SJ)
The Canadian Press