The share registry giant refused to comment when asked for details about the departure of Milburn, who headed up its printing division. ProPrint was unable to get through to Milburn.

According to the company’s website, the division is now being run by David Hynes, who founded Chelsea Images, which Computershare acquired in 1989 to establish Communication Services.

Milburn, who also came over in the Chelsea Images acquisition, was number 24 on last year’s ProPrint Power 50.

Meanwhile, the company’s half-yearly results showed a flattening in revenue and a fall in profits, although earnings rose for Australasia and Milburn’s former division.

The results showed global Communication Services revenue rose 6.6% to US$90 million ($85 million), while Communication Services’ Australian revenue climbed 6% to US$71 million. That was despite an outlay of US$400,000 for local restructuring.

Australian Communication Services generated 9.2% of the company’s global revenue.

Communication Services goes head to head with Salmat in the large-volume transaction print and mail space. Production is underpinned by the country’s first two Ricoh InfoPrint 5000 inkjet webs, installed in 2010.

There was also a 16% increase in revenue for Australia and New Zealand to US$209 million, although earnings declined 4.3% to US$46 million.

The results also showed Computershare’s revenue remained at US$774 million and net profit fell 10% to US$106 million.

Chief executive Stuart Crosby blamed a “tough” business environment for the results.

“Global uncertainty and low levels of investor and corporate confidence have meant very low levels of capital raisings and M&A transactions of the kinds that drive our revenues,” he said.

Computershare refused to comment about the results when contacted by ProPrint.

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