Carrs Paper managing director Dr Michael Bond has left the company to "pursue his numerous outside interests".
Former operations director Keith Lewis has replaced Bond as managing director of the 100-year-old Solihull-based carbonless paper producer.
Sales director John Williams said that Bond had left the company "having decided to spend more time tending to and working on his large woodland estate".
Williams is also set to bid farewell to Carrs, having announced his plans to retire in April earlier this month (PrintWeek, 9 March).
Former Inapa Merchants managing director Chris Bevington will replace Williams, who will continue to work for the company for between two to three days a week during the transition period.
Carrs Paper and packaging unit operates on a 10-acre site in the West Midlands. The firm is known for its Signal Plus and Ximage ranges of carbonless sheets.
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"This is a repeat of what happened to 1066 Capital t/a Crystal a year ago. They also never put this company in administration.
We are all still left unable to claim the redundancy and notice pay owed..."
"Totally agree"
"Best wishes to everyone involved. Nice to have a good story to read in Printweek."