Paperlinx has announced its new chief executive, Andy Preece, after dumping Andrew Price five days ago.

Andy Preece new CEO of Paperlinx

Preece, who has been the executive general manager, Australia, New Zealand and Asia at Spicers, a subsidiary of Paperlinx, is taking on the tough gig of turning the struggling company’s fortunes around to make it a profitable business. The paper merchant’s share price plummeted by a third from 3c to 2c on its dumping of Price last week, but did not budge on Preece’s appointment as the new chief. The board sacked Price after a 17 month stint in the top job on February 19, but was quick in replacing him, showering Preece with praise for his ‘proven track record’. The board says Preece ‘has proven capabilities to grow his business beyond the traditional commercial print sector as evidenced by successful diversified acquisitions in New Zealand during the past two years’. Paperlinx chairman Robert Kaye fuelled industry speculation that the paper merchant was considering selling off its European arm.

Andrew Price sacked as Paperlinx CEO

Kaye says, “As we continue to evaluate all strategic options as part of the recently commenced strategic review, including the potential sale or restructure of part or all of the European operations and with the pending sale of Spicers Canada, now is an appropriate time to make this leadership change.” He says, “Andy is well qualified to lead Paperlinx as the focus shifts towards scaling up our diversified businesses and tightening operational management across a more dynamic geographic footprint.” Preece, who has more than 20 years experience in paper merchanting and wholesaling industries, will be based in the ANZA region although given the group’s presence in Europe he may be required to spend some time in that region as well.

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