Jul 17, 2012. /Lesprom Network/. Toby Merchant had agreed to step down from his role as CEO of PaperlinX. Mr. Merchant will leave the company at the end of July, as PaperlinX said in the press release received by Lesprom Network. Chairman Harry Boon said: “I would like to sincerely thank Toby for his tireless dedication over 15 years to PaperlinX and its predecessors. Most recently, Toby successfully led our team through a lengthy and complex Strategic Review during exceptionally difficult circumstances.” “Having secured sufficient near-term liquidity for the group, we are now able to focus on the timely delivery of the previously announced restructuring programme and to seek additional opportunities for cost reduction and growth in diversified products.” Dave Allen has accepted the role of Interim Chief Executive. He is currently Executive Vice President of PaperlinX with responsibility for the UK, Ireland and Canada. Dave joined PaperlinX in 2004 and was previously Managing Director of the Robert Horne Group in the UK. “We have initiated a search for a permanent CEO, and will review both external and internal candidates. We have every confidence that Dave Allen and Richard Barfield will drive the restructuring programme during the search process,” said Harry Boon. In accordance with the terms of Mr. Marchant’s employment contract and the limits imposed by the Corporations Act, Mr. Marchant will receive a termination payment of 12 months total fixed remuneration in lieu of notice, plus statutory entitlements such as outstanding annual leave. PaperlinX is one of the world's leading global merchants of paper, communication materials and diversified products and services.