Angelson Appointed Chairman and CEO of World Color Press
MONTREAL—September 8, 2009—World Color Press Inc. (TSX: WC, WC.U) today announced that Mark Angelson, who has been non-executive Chairman of the World Color Board of Directors, will become Chairman and Chief Executive Officer, effective immediately, and will continue to work with the Board on the Company’s strategic direction while managing World Color on a day-to-day basis. Jacques Mallette, the Company’s Chief Executive Officer, will leave World Color to pursue outside business interests.
“We are very pleased that Mark has agreed to become the new leader of World Color,” said Tom Ryder, the newly elected Lead Independent Director of the World Color Board of Directors. “Mark is a dynamic and proven leader with an unparalleled track record in the printing industry. He is a change agent who has spearheaded the development of corporate cultures that are entrepreneurial, collaborative and hard-driving. These attributes are essential in order to meet the challenges faced by today’s printing industry.”
Ryder continued: “World Color has a rich tradition of leadership and excellence. The Board and I are confident that Mark will take the best of World Color – its loyal customer base, dedicated employees, leaner cost structure and a much improved balance sheet – and add a renewed spirit and vigor as we embark on World Color’s next great chapter.”
Angelson, whose office will be at the Company's headquarters in Montreal, said: "I am honored to be asked to lead a company with such deeply talented and dedicated employees as we begin a new chapter in our storied, century-long existence. While well versed in the industry, I am new to the Company. My first priority will be working with our sales force to further strengthen our customer base. I will simultaneously lead an assessment of our operations and management and make recommendations to the Board with a view to optimizing our business in the current challenging economic environment."
Angelson continued: “I intend, together with our talented employees, to move World Color forward with a new sense of urgency. We will do strategic planning by listening to customers and meeting their needs. We will foster a work environment that values integrity and safety, demands excellence and accountability, recognizes performance, and relentlessly focuses on costs and cash. We will seek to enhance productivity, reduce waste and turnaround times, maintain the most advanced technology and ensure the highest quality products and services for our customers.”
Angelson, 58, is a seasoned executive who, over the course of his distinguished career, has led numerous combinations in the printing industry. As Chief Executive Officer of RR Donnelley from 2004 through 2007, he orchestrated the effort that transformed the industry, combining RR Donnelley and other leading firms in the Americas, Europe and Asia to create the world’s largest provider of printing and related services. Under his stewardship, RR Donnelley enjoyed dramatic growth in its revenue, profit and shareholder value.
Prior to leading RR Donnelley, Angelson served variously as Chief Executive Officer, Chairman and Lead Independent Director of Moore Wallace, a former stalwart of the Toronto Stock Exchange. He was a principal architect of the merger between RR Donnelley and Moore Wallace and the earlier merger of Moore and Wallace Computer Services.
Previously, Angelson served as Deputy Chairman at Big Flower, now known as Vertis.
“The excellent employees of World Color have performed admirably during extraordinarily challenging times. I look forward to working closely with them to build upon the promise of a fresh start and restore World Color’s position as the preeminent provider of print, digital and related services for the benefit of all our stakeholders,” concluded Angelson.
“We thank Jacques for his contributions in leading the Company through a complex reorganization,” said Ryder. “We wish him well in his future endeavors.”
About World Color Press
World Color Press is an industry leader in providing high-value and comprehensive print, digital and related services to retailers, catalogers, publishers, branded-goods companies and other businesses worldwide. Founded in 1903, World Color’s products include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics and mail list technologies. During its century-long existence, World Color has had a rich tradition of leadership and excellence. Its team of approximately 20,000 employees is focused on helping clients meet their needs from facilities located in the U.S., Canada, Argentina, Brazil, Chile, Colombia, Mexico and Peru. More information about World Color can be found on its Web site at www.quebecorworld.com.
