Paperlinx shock: agitator Andrew Price joins the board

Price will join the board on 1 September, after narrowly failing to topple Boon at an extraordinary general meeting (EGM) in March.

At that point, Boon accused Price of lacking international experience and not understanding Paperlinx’s “complex” financial position. He said a victory for Price would “put the company’s recovery plan at substantial risk”.

However, Boon announced this morning that Price could make a “contribution to returning the business to profitability” as he “brings the perspective of a print buyer who understands the changing demands of the paper industry”.

“Andrew has 30 years’ experience in the paper, print and supply chain fulfilment industries,” he said.

“Following the recent completion of the strategic review, and our announcements of the sale of assets and the repayment and restructuring of some debt, the time is now right for Andrew to join the board in the next phase of implementing the ongoing restructure program.”

Boon also praised Price for establishing Stream Solutions, “which provided the Australian print industry with an internet-based order fulfilment capability to enhance supply chain efficiencies”.

Price said he was pleased to be joining the board – three months after accusing the board of being clueless and threatening another EGM.

“I look forward to making a significant contribution to the current restructuring of the scaled-down business, which should lead to a return to profitability through lower costs, more efficient order-to-fulfilment processes and a diversified product range,” he said.

Price told ProPrint in March that Boon had repeatedly offered him a board position in the weeks leading up to the EGM.

Click here to read about the ups and downs of Paperlinx.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter

Leave a comment:

Your email address will not be published. All fields are required

Advertisement

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.
Advertisement