More independents to lead Ovato as Hannan takes chair
Thursday, November 28, 2019 3:31 pm
Former chairman of IPMG Michael Hannan is back in the chair following its merger with PMP to create Australian printing giant Ovato.
The move follows the resignations of Ovato chairman Matthew Bickford-Smith, and that of non-executive director Terry Sinclair.
New independent directors are to be announced, as the board "rebalances" to have a majority of majority of independent directors.
Hannan (pictured) says his appointment is "the final phase" of the integration between IPMG and the former PMP following the 2017 merger.
"As we pass this milestone, it is important that we now revisit the experience and skill set of the Board to best assist management in improving shareholder returns in this next phase of the company," he says.
He thanksed Bickford-Smith for his work as a director for ten years, eight of them as chairman, and for his input after the merger.
Ovato is planning a long-overdue official opening of its upgraded super-site in Warwick Farm in Sydney's west.