Colorpak CEO Alex Commins has departed the business six months after it was acquired by US-based Graphic Packaging, breaking the last Commins family connection to the thirty-year-old packaging outfit.
Commins leaves despite winning a three-year contract extension last year to remain as CEO after a tough 2014, bouncing the company back to $1.6m profit.
His departure is however unsurprising following Colorpak’s $60m sale to Graphic Packaging which saw the publicly listed-company remove itself from the ASX and sell its shares to the international packaging giant.
ProPrint contacted Graphic Packaging who confirmed Commins’ exit from the company. He has been replaced temporarily by CFO Sid Troiani.
Colorpak had been owned or part owned by the Commins family since 1985 before Graphic Packaging’s acquisition. Commins was slated to remain on board as CEO with the responsibility of pushing Graphic Packaging’s growth ambitions in Australia and NZ.
Commins joined his father Walter Commins’ business in 1992 alongside his two brothers Harry and Paul, and became managing director in 2003.
Colorpak launched on the ASX in 2004, as one of the most successful print business IPOs in Australia.
ProPrint contacted Alex Commins for comment however he was unavailable at the time.
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