New Norprint Labelling Systems managing director David Wood wants to "stabilise the business and get it moving again".
Wood replaces Eden Douglas who, according to the company, "has left to pursue his own personal interests".
Central Midlands GPMU officer Kevin Hepworth said: "The company has not been performing as well as expected and reading between the lines I would say the financial backers needed a change."
Wood was appointed in June and has undertaken a strategic review of the company.
"I want to focus the business back onto what Norprint is good at developing wide ranging technical solutions for the market," he said.
Wood has a background in consultancy and general management, including six years in the retail banking sector.
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