Simpson Manufacturing CEO to step down, shares fall

Simpson Manufacturing

09/09/2022 17:48

** Shares in manufacturer of wood construction products
Simpson Manufacturing Co Inc  SSD.N  down ~1% at $90.09
    ** Company on Thursday after markets close said Karen
Colonias to step down as CEO on Dec. 31, 2022 and retire on June
30, 2023  urn:newsml:reuters.com:*:nPn2R0CSZa
    ** Colonias has been with the company for 38 years and at
various leadership positions including CFO 
    ** SSD says President and Chief Operating Officer Michael
Olosky to succeed Colonias as CEO effective January 1, 2023
    ** Olosky joined SSD as COO in November 2020 
    ** Stock has fallen ~35% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))