Arjo Wiggins chairman Ken Minton is to step down with immediate effect.


Minton is departing as Arjo's era as a public company has come to an end, following its acquisition by Worms & Cie.


Worms & Cie vice-chairman Luca Paveri-Fontana will oversee activities for the time being at Arjo. He has been a non-executive director of the firm since 1992.


Following Arjo's split into three divisions, Paveri-Fontana was chairman of fine, speciality and coated papers, as well as the Merchanting division.


He was also on the board of the carbonless division, with Minton as chairman.


At the time of the acquisition by Worms, Minton and Paveri-Fontana were the two largest director shareholders in Arjo with over 50,000 shares each.


Minton was appointed chairman three years ago, and during his reign Arjo's share price rose by by 48%.


Story by Andy Scott