In a statement released late Friday afternoon, August 22, Ryko Solutions Inc. announced that Steve L’Heureux had transitioned out of his role as president and CEO of the company into the position of vice chairman of the company’s board of directors. In this new role, L’Heureux will help provide guidance on Ryko’s long-term growth plans, key strategic initiatives, and merger and acquisition opportunities, the statement read. Ryko’s board has started a search for a new CEO. It is not known who will lead the company’s day-to-day operations in the interim.

L’Heureux joined Ryko in March 2011. The company almost doubled in size during his tenure as CEO.