Bolton died on 23 April, a few days short of what would have been his 72nd birthday.

He began his career at the Hull-headquartered paper business in 1970 as assistant to the financial director, and joined the board in 1980.

Bolton became managing director of the business in 1994 and took over as chairman in 2005.

He continued as chairman in a non-executive capacity until 2018.

Paying tribute in a post on LinkedIn, GF Smith joint managing director John Haslam said: “During his time on the board, Richard faced all challenges head on, he gave continual encouragement and guidance to those around him and his dedication, commitment and business acumen ensures that our company benefits today and for the future. Even after his retirement we continued to benefit from his guidance and support and he will be greatly missed.

“I personally had the pleasure of working with Richard for my entire career. He nurtured, developed and helped realise and mould the person I am today. We hugged, had fights, motivated each other and squabbled... the perfect empowering and dynamic mentor we all need. I will miss him dearly and respect him forever.”

Haslam said the GF Smith team sent its deepest condolences to Bolton’s wife Jill and the rest of his family, including sons Charles and Henry, and stepchildren Rob and Zoe.

Bolton’s funeral, for immediate family only, will be held on 11 May.