Boon, along with non-executive directors Lyndsey Cattermole and Anthony Clarke, brought forward their resignations to have immediate effect from 27 September after announcing their decision to leave last week.
A fourth member of the board, non-executive director Michael McConnell, also announced his resignation yesterday (27 September) to take effect from 5pm the day prior to the next annual general meeting (AGM).
Andrew Price is the only remaining member of the original board since his appointment on 1 September.
As a result of the board changes, the date for Paperlinx’s next AGM has been postponed from its original 31 October date, to 15 November.
Michael Barker, an actuary who has held senior executive positions across the institutional investment management industry, was appointed as non-executive director with immediate effect yesterday (27 September), to ensure an "ongoing quorum" for the Paperlinx board.
Senior counsel Robert Kaye will join Barker on the board as non-executive director.
In a statement made to the Australian Stock Exchange yesterday Boon said: "Our results in 2012 are reflective of a business in transition.
"The senior management team and the board have changed to reflect the different scale and needs of the business."
Chief executive Toby Marchant left the company in July as well as Paperlinx UK director Paul French.
It emerged that Marchant ended his employment with Paperlinx on a salary of £363,545 after he took a 15% voluntary pay cut on 1 April this year.
He was awarded twelve months' salary as part of his mutual decision to leave the company. On top of this, he was given £26,000 in accrued entitlements to bonuses for completed asset sales in 2011/2012 and £21,648 to compensate for untaken annual leave.
All directors and a number of senior managers also took a voluntary pay cut of between 7.5% and 10% in April 2012 as part of measures taken to reduce costs and return the company to profitability.
