The Ottawa-based firm’s board has started searching for a new chief executive, it announced after markets closed Tuesday. Sicard, who took the top job in 2016, will remain a consultant to Kinaxis next year. (The Logic)

Talking point: Major manufacturers like Ford and Procter & Gamble use Kinaxis software and AI to monitor their supply chains, as well as predict and avoid potential bottlenecks. The company’s stock soared during the pandemic but has stumbled as growth slowed. Its shares fell as much as 15.2 per cent Wednesday after announcing the leadership changes. (Kinaxis also said chief sales officer Claire Rychlewski will exit in November.) The firm reported US$118 million in revenue in the second quarter, up 12 per cent year over year, compared to an 18 per cent increase in the first quarter. The growth decline is the result of “an inevitable cooling in the red-hot supply chain planning solution market” as well as big businesses cutting back on tech spending, ATB Capital Markets analyst Martin Toner said in an investor note.