Fairfax  PMP  appointments 
David Kirk has left his position as CEO of PMP to take up a $1.2m base salary contract as CEO of Fairfax. Kirk will continue in his position at PMP until late November. His deal with Fairfax includes performance based bonuses of up to 150 per cent of his base salary, and an additional one-off $1.2m in compensation for PMP benefits forgone.

At Fairfax Kirk takes over from Fred Hilmer, who will continue to consult the new CEO and board. He says he is looking forward to the new challenge. “My prime objective is to continue to strengthen and grow Fairfax by creating opportunities and meeting competitive challenges,†says Kirk.

“The company is performing well and has an excellent management team. I support the enhanced operational focus the recent restructure has brought.â€

“I would like to thank the board of PMP for their unwavering support of a relentless change to agenda over the last two-and-a-half years. I am confident an excellent management team is in place to take the company forward.â€

Despite recent profit downgrades and erratic share prices, PMP chairman Graham Reaney says many beneficial changes have occurred at the company under Kirk’s leadership, including the establishment of a clear strategic direction for the group and the appointment of a strong new management team to implement these strategies.

“With a strong management team in place and improvement programs, including the installation of new presses running to schedule, customer service and operational performance will not be impacted by David’s departure,†says Reaney.

Former Fairfax chairman Dean Wills says Kirk is an outstanding choice to lead Fairfax and take the company forward.

“David knows the media industry and our publishing business as well,†says Wills. “He brings the experience, energy, enthusiasm and vision for the company that we have sought in finding the successor to Fred Hilmer, who has served with such distinction and accomplished so much for Fairfax over the past seven years.â€

Wills announced his own resignation from the board the same day Kirk signed on the dotted line, citing family commitments. Ronald Walker takes over as chairman.