Brian McManus

An unexpected changing of the guard at Stella-Jones Inc. is stoking concern among investors as Brian McManus gets set to leave the Canadian wood-products manufacturer after an 18-year run as chief executive. …Stella shares fell 6 per cent to close at $44.03 on the Toronto Stock Exchange Monday. The CEO’s departure… “may be interpreted by some investors as a sign that the long-term growth prospects for Stella-Jones are dimming,” CIBC Capital Markets analyst Hamir Patel said. Since Mr. McManus joined Stella in 2001, the company’s share price has increased from $0.55 to $46.87, he noted. …The company pushed past $2-billion in annual revenue for the first time in 2018 but it has faced headwinds over the past two years. Mr. McManus… emphasized the management team he has assembled… and he rejected the suggestion that Stella’s best days are behind it. [to access the full story a Globe & Mail subscription is required]