Aegis Brands Says Steven Pelton Stepping Down as President, CEO
Aegis Brands' (AEG.TO) President, Chief Executive and Director Steven Pelton will be stepping down from his roles after seven years leading the company, it said on Thursday.The board of directors initiated a formal search process for its next CEO while Pelton will remain with the company after his successor is appointed to "ensure a seamless leadership transition", it added.Pelton and his family will remain significant shareholders of Aegis Brands and continue to strongly support the company's future direction, the statement notedShares of the company, which owns and operates the St. Louis Bar & Grill brand and holds the master franchise for the Sweet Jesus ice cream brand in Canada, closed down 1.9% to $0.255 on Wednesday on the Toronto Stock Exchange.
