Mattick and Salter will retain some influence over the direct marketing company as non-executive directors once they step down, as well as remaining the company's largest shareholders, holding approximately 22.5 per cent of the company each.
According to reports, the pair began their search for a successor in 2007, with plans to hand over control around the company's 30th birthday in March this year. They also claimed to have no plans to sell their stake in the company anytime soon.
Salter and Mattick founded the company together in 1979, which built a reputation in the local printing industry when it leased a factory in western Sydney and began distributing catalogues for retailers such as Bonds, BBC Hardware and Grace Bros (now Myer).