Peter George will start his new role at the top of the region’s biggest commercial print group on 22 October – six months after resigning as a non-executive director to become chief operating officer.

PMP said then that George moved to the new role to provide Allely with close support in his transformation of the Australian print and distribution businesses.

[Related: exclusive interview with Richard Allely]

PMP said yesterday: “Mr George is a seasoned chief executive with a strong record in corporate restructure. Mr George was largely responsible for the successful transformation plan of the New Zealand print business.”

The group announced Allely’s resignation on 28 September. He gave 12 months’ notice, but “the directors came to the conclusion that it was in the best interest of shareholders that a new managing director be appointed as soon as possible”.

PMP revealed that Allely would be “paid out the balance of his notice period and all legal entitlements”.

Details of the package were not revealed, but the payday could net Allely a cool million dollars or more. Last October, he re-signed a three-year contract worth $780,000 plus short-term incentives. He was paid more than $1.2 million in the 2010-11 financial year.

[Related: ups and downs of PMP]

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