Former Opus Group CEO Cliff Brigstocke has left the company to become chief executive at Blue Star, succeeding Matt Aitken who has stepped up to Blue Star parent IVE as chief operating officer. The news comes after Opus Group revealed the cause behind its decision to offload Singapore arm, COS Printers to parent company 1010 Printing.
Departing Opus CEO: Cliff Brigstocke
Brigstocke’s departure comes just weeks after a management reshuffle at Opus Group, which saw Brigstocke step down as CEO and become managing director of marketing and sales, he was replaced by Richard Celarc. Brigstocke was with Opus for nine years and headed its predecessor, Knox prior to that. CEO Celarc says Brigstocke’s deep knowledge of the industry will be missed by the company. Of his departure, Brigstocke comments, “Whilst I am indeed saddened to be leaving the Group we founded, I believe in many ways the time is right.” “I am leaving Opus in good shape and in capable hands and of course wish the team every success as they focus on their Australian businesses.” Aitken and Brigstocke are expected to take up their new roles on July, 1 2016. Opus has also revealed the cause for its proposed sale of Singapore division, COS Printers, which it announced to investors earlier this month. Opus states the rationale for the $19.3m deal is due to ‘little synergy between COS Printer’s printing business located in Singapore and Opus’ printing business located in Australia and New Zealand’. The Group says it wants to exit the Singapore market due ‘geographical differences’ and recommends shareholders vote in favour of the move. The sale will be discussed during its Annual General Meeting to be held on May 9, where valuation firm Lonergan Edwards & Associates will assess the proposed transaction. LEA has valued shares in COS between $10.9m and $11.4m. Opus’ history with COS Printers goes back to 2009 when it formed a strategic alliance with the business, it then went on to acquire COS in 2010.
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