UPDATE 3-CEO of Canada's Rona steps down; shares jump
* Lowe's withdrew takeover proposal in September
* Lowe's says no recent talks with Rona
* Robert Dutton has been chief executive since 1992
* CFO Boies to be interim chief executive
* Rona shares jump more than 7 percent (Recasts with surprise after disappointing results, adds investor comments, updates share price move)
By Allison Martell and Euan Rocha
TORONTO, Nov 9 (Reuters) - Canadian home-improvement retailer and distributor Rona Inc, which earlier this year rejected a takeover offer from U.S.-based rival Lowe's Cos Inc, said on Friday that Chief Executive Robert Dutton was stepping down, a surprise move that came two days after disappointing results.
Rona said Chief Financial Officer Dominique Boies would serve as acting CEO while the company looks for a successor. Rona shares jumped amid speculation that the Quebec-based company might be in play.
Fund manager Irwin Michael, whose I.A. Michael Investment Counsel Ltd is one of Rona's top shareholders, said Dutton's "completely unexpected" departure gives the company a chance to rethink its plans. Continued...