Rich Lister Geminder plans board shake-up if Pact bid falls short

Rich Lister Raphael Geminder is planning a shake-up of the board at Pact Group in a “plan B” strategy, should a $234 million buyout bid launched nine months ago fall short of its 90 per cent target, which appears likely.

Mr Geminder wants to appoint more of his own directors to the Pact board and also intends to become executive chairman of Pact, stepping up from his current role as chairman of the underperforming company that was first listed on the ASX in 2013.