Paperlinx Makes Personnel Changes to Cut Corporate Costs
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PaperlinX, Australia, this week announced that James Orr, EGM Corporate Affairs and company secretary, is to leave the company at the end of June. Michelle Wong will take on the role of company secretary, reporting to Wayne Johnston who takes on the responsibility as EGM Corporate Services in addition to his role as deputy CFO.
Global Marketing and HR functions are to be disbanded, with ongoing functions transferred to the operating divisions. The corporate office in Milton Keynes, Australia, is to close. The CEO and CFO will move to the U.K. Northampton offices.
Total corporate costs in FY 2013 are expected to be approximately A$12.5 million, a 35% reduction on prior year and less than 0.4% of projected turnover. Commenting on the changes, Toby Marchant, CEO, said that "minimizing corporate overheads is a key element of the strategic review, and these changes are a next step."
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