New PaperlinX CFO to move into UK head quarters
Top end shuffles continue at PaperlinX with the company announcing this week the appointment of its new Chief Financial Officer, Richard Barfield, replacing the departing Tony Kennedy.
Barfield, who will be based at the company’s UK head quarters, has most recently worked with two publicly listed companies, Northgate Plc, a UK-based commercial vehicle hire company active in several European countries and Spring Plc, a UK-based recruitment business.
The company has publicly been on the hunt for a new CFO since early April when it announced that Kennedy would retire from his role on June 30 this year. While PaperlinX chairman, Harry Boon maintains that Kennedy’s decision to retire was not prompted by the turbulent events and financial performance struggles experienced by the paper merchant over the last year.
However, in a statement released this week by PaperlinX, the company’s CEO, Toby Marchant (pictured) cited the soon-to-be appointed Barfield’s track record in regard to managing company restructuring processes. In the statement, released on May 31, Marchant said:
“Richard is a highly experienced and well respected Chief Financial Officer who has recently completed the turnaround and sale of Bezier Group in the UK. His experience and track record of improving the fortunes of businesses through restructuring and well considered management of the balance sheet will be invaluable to PaperlinX.”
The new appointment is a move that will be watched closely by outspoken shareholder figurehead, Andrew Price, who announced this week on Twitter his decision to base himself in Oxford in the UK from June 12 to keep abreast of PaperlinX developments as they occur.