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News Release from: Plimsoll Publishing | Subject: Analysis of UK printing companies' directors
Edited by the Printingtalk Editorial
Team on 23 February 2007
Top Appointments At Printing Firms
Prompts Changes
A wave of new appointments at the top of the UK's largest 790 printing companies is set to prompt a radical change in their behaviour and put even greater pressure on those with aging boardrooms.
A wave of new appointments at the top of the UK's largest 790 printing companies is set to prompt a radical change in their behaviour and put even greater pressure on those with aging boardrooms That is the view of Plimsoll Publishing, the industry analyst
This article was originally published on Printingtalk on 29 Jan 2007 at 8.00am (UK)
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The company said that there have been 592 new appointments at director level in the last 18 months in an industry with 1,986 directors in total.
According to Plimsoll, new blood represents a transformation of the industry, with new ideas, renewed focus and different ways of working, added Plimsoll.
Senior analyst at Plimsoll, David Pattison, said: "There has never been a more important time to take note not just of the companies you are doing business with, but of the decision makers behind those companies.
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We all know that companies don't do business with companies - people do business with other people.
But the people are changing and firms will be caught out and lose business as a result, simply because they took a customer, competitor or supplier for granted on the basis of an older management style." Plimsoll's analysis has investigated each company's financial performance and offers views on the challenges the new directors face, as well as the strategies they are deploying to stamp their mark on the industry, said the company.
It finds that for 244 of them the challenge is to keep the company afloat, whilst for 348 others it is to provide industry-leading performance.
In both cases, a change in the way of doing things looks inevitable, in Plimsoll's opinion.
David Pattison explained: "The reasons for the new appointments are varied.
Some have been taken on with the direct objective of finding a buyer for the company, whilst others look as if they have been appointed to see through a management buyout.
Whatever the reason, this wave of new blood is simply the start.
Almost a quarter of directors are over the age of 60 and we will see yet more evolution in the not too distant future." Directors' salaries vary widely between different industries, according to Plimsoll.
The average is GBP84,507 but in the property developers industry, for example, a director can pick up nearly GBP300,000.
Job security varies widely, too, however.
Plimsoll said that the average director's salary in the UK printing industry was GBP94,459 last year, whilst generally, a K director's average salary is GBP68,500.
At the same time, directors' fees increased on average by 11 per cent and top earners can see their pay rise to more than GBP139,000.
The company added that its study revealed that typically, the time in office of a director in the printing industry is now over five years, compared to the UK average of just over seven years.
The new independent analysis of the UK's 1,986 most influential decision makers and the 790 printing companies they are responsible for is available now.
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