Pro-Pac Packaging Limited (ASX:PPG) Appoints Ian Shannon as CEO
Executive Appointment
Pro-Pac Packaging Limited (ASX:PPG) has appointed Mr Ian Shannon as Chief Executive Officer, effective today. He will also serve on the Board as Managing Director following the conclusion of the annual general meeting.
Mr Shannon previously held the position of Chief Operations Officer at Pro-Pac and joined the company in July 2024. He brings extensive experience from his tenure as CEO of John Cotton Australia, along with over 20 years in sales and marketing across various sectors.
Compensation Details
Mr Shannon’s remuneration includes a guaranteed annual salary of $600,000 plus superannuation, amounting to a total of $629,932.20 per annum. Additionally, he is eligible for a short-term incentive of $600,000 contingent upon achieving Key Performance Indicators and a long-term incentive also set at $600,000, subject to performance requirements.
Termination provisions allow either party to end the employment contract with three months’ notice. Pro-Pac may also terminate the contract for misconduct or serious breach.
Future Operational Focus
The Board of Directors expressed confidence in Mr Shannon’s ability to lead Pro-Pac through its next phase. His prior accomplishments and leadership experience are expected to drive operational excellence and innovation within the company.
“I am excited to lead Pro-Pac Packaging and continue our commitment to delivering innovative packaging solutions across diverse industries,” said Mr Shannon.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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