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Cenveo Chairman, President and CEO Paul Reilly to Resign

Monday, January 10, 2005

Press release from the issuing company

ENGLEWOOD, Colo.--Jan. 7, 2005-- Cenveo Inc., one of North America's leading providers of visual communications, today announced that Chairman, President and Chief Executive Officer Paul Reilly has informed the company of his intention to resign and, at the request of the Board of Directors, Mr. Reilly has agreed to remain in his current positions of President and Chief Executive Officer and assist the Board in its search for a successor president and chief executive officer. Although Mr. Reilly will no longer serve as Chairman of the Board of Directors, Mr. Reilly will continue as a director of Cenveo. "Paul Reilly has made a tremendous contribution to Cenveo, first as our chief financial officer, then as our chief operating officer and ultimately as our chief executive officer," said lead director Martin J. Maloney, speaking on behalf of the Cenveo Board. "Because of his leadership, Cenveo is well-positioned for future growth and to achieve operating results consistent with being preeminent in the visual communications industry. "We are committed to maintaining our high level of customer service and are pleased that Paul has agreed to stay on to ensure a smooth transition. We thank Paul for his 10 years of dedicated service to the company and wish him all the best." "It has been an honor to work with the outstanding team at Cenveo," said Mr. Reilly. "I am proud of the team's accomplishments in transforming Cenveo to an integrated company that brings the benefits of its broad product line and broad geographical footprint to its customers. An effective strategic direction is in place for the next chief executive to further implement." The Board of Directors has commenced a search for a new president and chief executive officer. In addition, the Board has appointed Susan O. Rheney as interim Chairman of the Board of Directors. Ms. Rheney was a principal at the Sterling Group, the investment firm that formed Mail-Well, Inc., Cenveo's predecessor, and was involved in the formation and initial operations of the company. Ms. Rheney served on the board from the company's formation until 1997 and rejoined the board in February, 2003. She is a member of Cenveo's audit committee and governance and nominating committee. Under the terms of Mr. Reilly's separation, Cenveo expects to pay Mr. Reilly severance on substantially the terms provided in his employment contract.

 

 

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