Paperlinx is looking for a new chief financial officer following the news that Tony Kennedy will retire on June 22.
Kennedy has been with the financially-troubled paper company for 22 years, having been CFO of the company's North American division before returning to Australia in 2010.
Paperlinx chairman Harry Boon last month survived a campaign to oust him as chairman of the loss-making paper company, that recently revealed a half-year loss of $60 million.
A group of disgruntled shareholders, led by prominent shareholder Andrew Price, used last month's shareholders' meeting to force a vote on replacing Boon and giving Price a seat on the board.
The motion was narrowly defeated, with 51.84 per cent of shareholders voting favour of Boon's continued tenure.
In December, Paperlinx revealed it had received a highly-conditional takeover offer that valued the once successful company at just $117 million.
