Phillip Bower beat internal and external applicants for the role vacated by former managing director Chris Mitchell.

Mitchell announced his departure in September with his final day on 11 November.

Bower’s CV includes managing director positions at three major companies: Goodman Fielder, MCK Group and “leading Asia Pacific private equity firm” Unitas Capital.

Following the announcement made to the NZX this morning, Blue Star chairman Nick Greiner told ProPrint that Bower’s depth of knowledge in the intricacies of private equity-backed business was an important factor in the appointment.

“We think that we are an outstanding printing organisation and we were looking for a chief executive with experience in both New Zealand and Australia,” he said.

“The company continues to do very well in a tough industry, and Phillip will use his strategic and financial leadership in delivering on the program that was laid out with the bondholders earlier in the year.”

Greiner stressed that Bower’s lack of printing industry experience would not be a setback.

“He has a huge number of a world-class printing industry executives working underneath him and he is not there to change the strategy,” said Greiner.

“It is obvious that we chose him for his experience in business rather than an industry specific skill-set.”

When Greiner takes up his post on 28 November, he will be tasked with hitting Blue Star’s targets following its debt restructure plan, which was approved by bondholders in August.

Blue Star chief financial officer Graeme Archer has been acting managing director since 11 November.

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