Shares in Canadian brewer, Sleeman Breweries Ltd., reached a two-month high yesterday as investors greeted the swift appointment of a new president and chief operating officer enthusiastically.

Sleeman shares rose by 51 Canadian cents, or 5%, to C$10.46 on the Toronto Stock Exchange on Monday. The news was a welcome relief for Sleeman which was rocked last week by the resignation of its president and chief executive, David Meyers, after only eight months in the job, to "pursue other interests". The company has appointed Rick Knudson to take Meyers' place.