MONTREAL, July 15, 2019 (GLOBE NEWSWIRE) -- Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced that Brian McManus has made the decision to step down as President and CEO, effective October 11, 2019. Until such date, Mr. McManus will work closely with management and the Board to ensure a smooth transition. Upon Brian’s departure, Eric Vachon, Senior Vice-President and CFO, will be serving as interim CEO. Mr. Vachon is a twelve-year veteran of the Company, whose prior roles have included Director, Treasury and Financial Reporting, Vice President Finance, U.S. Operations and Vice President and Treasurer since joining Stella-Jones in 2007. Mr. Vachon will retain his CFO responsibilities during the interim period. Stella-Jones confirms its general outlook for 2019 and Management expects higher overall year-over-year sales and margins.

"It has been an immense privilege to lead Stella-Jones during an important period of transformation and growth. I am grateful to have worked with such a purpose-driven and engaged team, possessing such a great deal of industry leading knowledge. I have every confidence that Stella-Jones will remain well positioned to meet the growing needs of our customers while continuing to deliver profitable growth and shareholder value.,” said Mr. McManus.

"Brian has been instrumental in assembling a strong and talented management team and helping drive Stella-Jones’ exceptional growth and value creation over the course of the past 18 years. On behalf of the Board, I would like to thank Brian for his outstanding leadership and contribution to the success of Stella-Jones and wish him all the best, as we look forward to working with Eric as our interim CEO" said Katherine Lehman, Chair of the Board.

A special committee of the Board of Directors has been formed to conduct a search for the Company's next CEO and will be considering both internal and external candidates.

ABOUT STELLA-JONES
Stella-Jones Inc. (TSX: SJ) is a leading producer and marketer of pressure treated wood products. The Company supplies North America’s railroad operators with railway ties and timbers, and the continent’s electrical utilities and telecommunication companies with utility poles. Stella-Jones also manufactures and distributes residential lumber and accessories to retailers for outdoor applications, as well as industrial products for construction and marine applications. The Company’s common shares are listed on the Toronto Stock Exchange.

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, the ability of the Company to raise the capital required for acquisitions, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

Source: Stella-Jones Inc.
  
Contacts:Éric Vachon, CPA, CA
 Senior Vice-President and
 Chief Financial Officer
 Tel.: (514) 940-3903
 evachon@stella-jones.com