Upfront 2-01

Ward Leaves R.R. Donnelley
CHICAGO—R.R. Donnelley & Sons reports Jonathan P. Ward has resigned as president of the company to become president and CEO of ServiceMaster. William L. Davis, who has served as chairman and CEO since 1997, will assume the role of president. Ward joined R.R. Donnelley in 1977 and held a number of sales and operations posts prior to becoming president in 1997. In other company news, Donnelley announced that it expects year 2000 earnings per share to be lower than previously anticipated. Donnelley lowered the range to $2.15 to $2.20 per share, from the high $2.20s to lower $2.30s. These ranges include a 6 cent one-time gain disclosed in the third quarter of 2000. The company attributes the majority of the shortfall from previous expectations for its logistics business, R.R. Donnelley Logistics, which experienced higher outsourced transportation and fuel costs, as well as higher costs to meet service commitments.