- Methanex ( NASDAQ: MEOH ) said Thursday John Floren, president and CEO, will retire as of Dec. 31 .
- Floren will also step down from MEOH's board.
- MEOH appointed Rich Sumner as president, CEO and board member, effective Jan. 1, 2023.
- Sumner currently serves as SVP, global marketing and logistics at MEOH.
- MEOH also announced a normal course issuer bid , under which it will buy back up to 3.5M shares for cancellation.
- This represents 5% of issued and outstanding stock as of Thursday.
- Purchases will start no earlier than Sept. 26.
- Subject to certain exceptions, any daily purchases under the NCIB through the Toronto Stock Exchange will not exceed 54.9K shares.
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Methanex says CEO John Floren to retire, announces NCIB to buy back stock