Stella-Jones Inc. Announces the Appointment of Eric Vachon as President and CEO

MONTREAL, Sept. 12, 2019 (GLOBE NEWSWIRE) -- Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced the appointment of Eric Vachon as its new President and Chief Executive Officer. Currently serving as Senior Vice-President and Chief Financial Officer, Mr. Vachon’s appointment will take effect on October 11, 2019, succeeding Brian McManus, who in July, announced his intention to step down in mid-October. Concurrently, Mr. Vachon will be joining the Company’s Board of Directors.

Eric Vachon is a twelve-year veteran of Stella-Jones and has held a variety of positions of increasing responsibility including Director, Treasury and Financial Reporting, Vice President Finance, U.S. Operations and Vice President and Treasurer since joining Stella-Jones in 2007.

Commenting on his appointment, Mr. Vachon said: “I wish to thank the Stella-Jones Board for its confidence, and I look forward to working with all of our employees to continue strengthening our continental network and building upon our tradition of inspiring leadership, operational efficiencies, and customer satisfaction.”

Katherine Lehman, Chair of the Board added: “Eric is a proven leader with over a decade of experience in the wood treating business.  He has extensive knowledge of operations, finance, capital markets and M&A, and has earned the respect and full confidence of our Board and executive team as he takes on the role of President and CEO. The Board joins me in congratulating Eric and looks forward to working with him in his new capacity.”

A Special Committee of the Board of Directors was formed in July to conduct a search for the Company's CEO. It engaged a top independent consultant to assist the Committee, considering both internal and external candidates. The Company is now initiating steps to fill a senior financial position.

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.