Trex CEO Steps Down
Anthony J. Cavanna, the chief executive of Trex Co. Inc., out of Winchester, is stepping down Aug. 15.
Cavanna, 68, is one of the orginal four executives who formed Trex in 1996 and took it public three years later. He'll be replaced by another of those original executives, Andrew U. Ferrari, 60, who has been serving as president and chief operating officer, according to a press release.
Trex is the nation's largest manufacturer of composite decking and railing made from reclaimed wood and plastic. The company has been hurt by troubles in the home construction and remodeling market, and by what Trex described as "lower-than-expected plant productivity and higher-than-expected plant overhead expenses related to our focus on quality;" its stock has fallen 34 percent since February, closing at $17.71 today.
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