Jacques Mallette is resigning as CEO of World Color a week after the company’s CFO, Jeremy Roberts, announced he will step aside. The Montreal-based company is to be led by former R.R. Donnelley CEO, Mark Angelson, who was appointed as Chairman of World Color in June 2009.
Mallette and Roberts played a major role in steering World Color’s previous entity, Quebecor World, through a year and a half of bankruptcy protection, which ended in late July 2009. Mallette, who served as the CFO of Quebecor for many years, was named the company’s CEO in 2007 after Pierre Péledeau stepped aside to lead Quebecor Media and that organization’s parent company, Quebecor Inc., which no longer has financial or structural ties to World Color.
A month before Quebecor World’s emergence from bankruptcy protection, before taking on the World Color name, the company revamped its board and named Mark Angelson as non-executive Chairman. Angelson was CEO of R.R. Donnelley (RRD) between 2004 and 2007, after growing that Chicago-based company into the world’s largest commercial printer through a series of mergers and acquisitions, including the January 2003, US$1.3 billion combination of Moore Corporation Limited and Wallace Computer Services. That move was orchestrated between Angelson, heading up Wallace at the time, and Robert Burton, who led Moore. This Moore Wallace entity was then merged with RRD later the same year – November. Burton was also heavily involved in the formation of Quebecor World when he helped to steer the 1999 merger between his California-based World Color organization and Quebecor’s printing division. Burton currently serves as the CEO and Chairman of Cenveo Inc.
RRD had presented a bid to purchase Quebecor World on May 13, 2009, but withdrew the offer in matter of weeks. The new board, with Angelson as its head, was then appointed June 23, 2009. “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,” said Angelson, in a statement concerning his new appointment. “I intend, together with our talented employees, to move World Color forward with a new sense of urgency.”
World Color Press (formerly Quebecor World) CFO Jeremy Roberts has resigned from his position, the company has announced. Roberts has served Quebecor World for the past 12 years, including leading the company out of bankruptcy this year. Roberts will be taking the role of Senior Vice President of Finance at George Weston Limited and Loblaw Companies Limited.
"[Roberts] has made important contributions, especially during our critical restructuring process, but also in assembling a strong finance team that will enable us to succeed going forward. I join the rest of our management team in wishing Jeremy the very best in his future endeavours," said Jacques Mallette, President and CEO, in a statement.
Prior to joining Quebecor World, Roberts was Assistant Treasurer at Bell Canada, where he spent 10 years in corporate finance and treasury. His resignation is effective October 5.
After spending the past decade working with a variety of companies, Colleen Brown returns to Thunderbird Press, based in Richmond, British Columbia, which lies just outside of the Vancouver metropolitan area.
She actually began her printing career with Thunderbird, which is an FSC-certified company now celebrating its 42nd year in business. In June 2008, Thunderbird expanded its operations by purchasing Broadway Printers, which at the time was a 97-year-old company.
Brown becomes the Account Manager for a new interior-of-BC sales presence, servicing the Okanagan Valley, being established by Thunderbird Press. She has more than 20 years of sales and production experience in the printing industry.
Former Corel CEO David Dobson has been appointed Executive Vice President and President of Pitney Bowes Management Services, which focuses on the production of outsourced mail and document management services to large corporations, law firms, universities and government agencies. Dobson will also lead the development and deployment of an Enterprise Sales and Solutions Group for Pitney Bowes.
Dobson joined Pitney Bowes in 2008 as Executive Vice President and Chief Strategy and Innovation Officer. In the past year, he has led the development of the corporation's overall growth strategy with a particular focus on launching new business opportunities. Before joining Pitney Bowes, Dobson was CEO of Ottawa-based Corel Corporation and also spent 19 years at IBM, where he ascended to the position of General Manager and President of IBM Printing Systems Division.
Holger Garbrecht, KBA North America CEO and President, on August 31 is stepping down from his current position in the United States and returning to Germany. KBA states a new CEO will be announced in the next several weeks.
After living in the U.S. for two years, Garbrecht states he is leaving KBA for family reasons. “For the past two years, I have had the privilege of leading one of the most dynamic printing press manufacturers in North America,” said Garbrecht. “It has been a rewarding period of my life to meet the KBA North American customers, see firsthand their great American spirit and entrepreneurship, and become an integral part of their business as our products have helped them to grow and prosper."
Garbrecht recently completed KBA's move into a new Dallas headquarters, leaving Vermont, which integrates the company's previously separated web and sheetfed divisions. After years of executive experience at Heidelberg, Garbrecht joined KBA in October 2007 as President and CEO of the North American division.
Bruce Robertson will lead the efforts by AbitibiBowater to emerge out of bankruptcy protection, after April 2009 filings in both Canada and the United Sates. Robertson, operating under the official title of Chief Restructuring Officer, most recently served as Senior Managing Partner at Brookfield Asset Management Inc., where he managed over US$7 billion in North American distressed private equity, bridge lending, and real estate finance strategies.
"We are pleased to have Bruce Robertson on board and to share his expertise in corporate finance and restructurings," stated AbitibiBowater CEO David Paterson.
On June 17, AbitibiBowater received approval for an amendment and restating of its existing accounts receivable securitization program for the Company's Abitibi-Consolidated subsidiary. Citibank and Barclays Capital Inc. were announced as joint lead arrangers for the amended US$270-million program, which provided the company with the liquidity necessary to continue operations.
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