PMP appoints new head of Print to go with new CEO

George (pictured) has been a non-executive director at the printing giant since 2002, as well as serving as chairman of the company’s Audit and Risk Management Committee. He will be charged with overseeing a “transformation” of the Print business outlined by business consulting firm Booz & Co.

 

“We are privileged to have someone of Peter’s calibre to implement the Print transformation project,” said Allely in a statement to the ASX. “Peter has extensive experience in corporate restructuring and transformation. His brief is to reposition the Print business with a lower cost base and a focus on delivering high value, high quality service.”

 

Ashton will leave the company slightly before his contract expires in July, with Allely saying the outgoing COO will return to his native New Zealand due to “family commitments”.

 

“Peter will start managing the Print business in an executive role immediately, reporting directly to me,” Allely said.

 

The “transformation” of the Print business was flagged by Allely yesterday on his full-time assumption of the CEO role.

 

Allely has been CFO with the company for the last seven years, before taking on the interim CEO role following the sudden departure of Brian Evans in January this year. Allely’s appointment comes after a two-month review of internal and external candidates.

 

“Allely has an excellent background in the industry, including three years with Fairfax,” the company said. “He also has strong manufacturing experience, having worked with Boral, Tenix Defence and James Hardie.”

 

Allely has been given a three year contract which commences from last week, with an option on a further two years by mutual agreement.

 

However, in a sign of the times, his fixed base salary of $815,000 a year represents a 22 per cent cut on a deal Evans agreed to in September of last year.

 

“PMP is a fundamentally sound company that has strong potential to deliver value to both customers and shareholders and provide excellent opportunities for employees,” Allely said. “I have a clear view of the leadership team and the business needs required to meet that potential.”

 

The company said it will announce new appointments to the roles of CFO and Company Secretary soon, with Allely saying the company has “strong internal candidates for both positions”.

 

Following his mysterious departure, Evans has since hit PMP with a statement of claim for $1.56 million, plus interests and costs. The printing giant has retained law firm Blake Dawson to defend itself in the matter, with an initial hearing set for next month.

 

The company has also battled recent allegations of financial impropriety in its senior management team and gross inefficiencies in its distribution business.

 

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