Emanuel Taps Ex-Donnelley CEO to Lead Chicago’s Financial Turnaround

Mark Angelson will lead a high-powered economic team under the mayor-elect (Rahm Emanuel) that also includes Chief Financial Officer Lois Scott and Budget Director Alexandra Holt. Angelson is a mergers-and-acquisitions specialist who presided over a major consolidation of the printing industry during a four-year stint as CEO of Chicago-based RR Donnelley.

Despite a slight uptick in revenues, the city remains on the brink of bankruptcy with a structural deficit approaching $1 billion when under-funded employee pensions are factored in. The newly created Economic, Budgetary and Business Development Council chaired by Angelson will include Chicago’s CFO, budget director, chief technology