Paper giant Spicers has appointed former Avery Dennison executive David Martin to replace departed Andy Preece as chief executive.

Martin will be paid a fixed remuneration of $674,575 per year, making his role one of the highest paid jobs in the print industry. 

According to Spicers, the appointment is the result of an extensive executive search by the company following Preece’s resignation in March this year.

Preece stepped down from his tenure as CEO only a year after assuming the position. He was instrumental in rebranding of Paperlinx into Spicers following its disastrous European adventure, which saw it lose $300m last year, after boardroom battles over several years.

Martin is slated to commence the role on July 18 and will be based in Melbourne. He joins Spicers after a 23-year stint at packaging firm Avery Dennison serving as general manager for Australia, NZ and the Asean countries.

“We are delighted to appoint someone of David’s calibre to be our CEO. David is an executive of proven ability with the right fit of skills and experience to lead our businesses in Australia, New Zealand and Asia,” says Spicers in an ASX statement.

“Under his leadership we are confident that Spicers will be able to secure the revenue streams of its core commercial print segment, while developing its diversified segments, including identification of new markets and acquisition opportunities.”

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