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
Have your say in the Printweek Poll
Related stories
Latest comments
"Bit weird. From what I've heard, things started to go wrong when their trade customers found out they put a B1 printing press in and went from a supplier to a competitor......"
"Sad to see another print company facing financial trouble. The industry is tough, and this highlights the ongoing challenges many are facing. Hope employees and customers get clarity soon."
"Not surprised, businesses need to prepare for these attacks rather than thinking that they're going to avoid them. At the very least, data needs to be fully protected with air gaps in place..."
Up next...
New lease agreed
Reflections Print Finishers to reopen this week
Information gap
Admins confirmed at TJ Books
2025 event underway
Hunkeler Innovationdays opens doors
Follows Bucks contract win