According to reports, Smurfit, who made around 160m from the 2.1bn
sale of the business to Chicago-based private equity firm Madison Dearborn Partners in the summer of 2002, said the new owners had retained his services to lead a new initial public offering when the time was right.
Smurfit still owns 7.3% of the group. If the company were to float again, Smurfit has backed Tony, the firms chief operating officer, as a suitable replacement for McGann.
As PrintWeek went to press McGann was unavailable for comment.
Story by Andy Scott
Have your say in the Printweek Poll
Related stories
Latest comments
"I have worked in quite a few print sectors, including Walstead in the past. It is all tough, but most will not be surprised that the packaging sector is still growing. However, the service in the..."
""longer run litho work had “now returned to the Far East”?
Is this happening a lot?"
"Thanks Jo, look forward to reading it in due course. Administrators generally argue that they need to act with lightning speed in order to protect the business/jobs, thereby overlooking the fact that..."
Up next...
Revenue up to £3.2m, profits quadupled
Footprint picks up pace of acquisition strategy with Swindon’s C3
Controversy emerges over relationship with potential suitor
National World shares soar on takeover approach
24/7 access for customers
Bakergoodchild launches new SaaS platform
Strategic move for global growth