He will be succeeded by Patrick Martell, the incumbent managing director of UK operations.

Also announced today is the news that Simon Ward, director of group sales, will be leaving the company on 31 March.

In a statement to the London Stock Exchange, the company said that Edwards' contribution to the group had been "unsurpassed".

Edwards has been at the company since 1978. He was appointed managing director in 1990 and chief executive in 2007.

Ward told St Ives last year that he "did not see the quoted sector as providing attractive long-term opportunities" and will return to private equity but remain in a consultancy role at the group.

Jasper Scott, manufacturing director of IPC Media, said: "I'm delighted that Patrick Martell has got the job. In the last few months I've got to know Pat well.

"He's steeped in printing – he's worked his way up from the shopfloor, and he's a bright guy. He's also got his head screwed on and is good at looking after customers."
 
Christian Knapp, UK managing director of KBA, added: "I'm surprised that a successful company with such a strong leadership is changing its management. But I'm sure their succession plan will succeed."

More to follow...