Grant Fitz hired as EFI’s new chief financial officer

Fitz replaces long-time EFI executive Marc Olin

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Grant Fitz hired as EFI's new chief financial officer
Grant Fitz hired as EFI's new chief financial officer

Electronics For Imaging (EFI) has named finance executive Grant Fitz as its new chief financial officer (CFO). Fitz replaces long-time EFI executive Marc Olin, who will assume the chief operation officer (COO) role at EFI. Fitz brings nearly 30 years of financial and operational experience overseeing accounting, business support, and financial planning and analysis in the print marketing, tech and automotive fields.

“Having worked with Grant at Xerox, I know him to be a thoughtful and insightful executive and a dynamic, resourceful CFO,” said EFI chairman and chief executive officer Jeff Jacobson. “I am excited to have him join our team to establish new financial strategies that give us the ability to drive deeper engagement and even stronger innovation in our customer offerings.”

Fitz comes to EFI from Valassis, a print and digital marketing technology and consumer engagement company, where he also served as the chief financial officer. Prior to that, he was the corporate vice president and chief financial officer at Xerox Technology.

Fitz also held a number of senior leadership positions at General Motors, both in Europe and the United States, and served as GM’s first chief risk officer. He also worked as the senior vice president and chief financial officer of Nexteer Automotive, a global automotive steering systems company.

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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