Changes Designed to Put More Emphasis On Outsourcing Business
Utilizes strong financial team in new roles within the organization
TORONTO & STAMFORD, Conn.--Feb. 25, 2002-- Robert G. Burton, President and Chief Executive Officer of Moore Corporation announced today several internal changes designed to add financial strength and leadership to various parts of the organization. These appointments are designed to leverage the talent of Moore's strong financial personnel across the business units and drive future growth in the company's Outsourcing business.
Mr. Burton announced that Robert B. Lewis, until this positive change, the company's Executive Vice President and Chief Financial Officer, has been appointed President, Business Communication Services. In this role, Mr. Lewis will now be responsible for the day-to-day operations of the BCS (Outsourcing) division, which currently comprises over $400 million in revenue. Replacing Mr. Lewis in the Chief Financial Officer's role is Mark S. Hiltwein who has been promoted to Executive Vice President and Chief Financial Officer. Mark was previously Senior Vice President and Controller for Moore. Mr. Burton also announced the promotion of Richard T. Sansone, previously Assistant Controller for Moore, to the position of Vice President and Controller.
In regard to these appointments Mr. Burton stated:
"Since our arrival in December 2000, we have spent the majority of our time focusing on restructuring Moore and positioning it for future growth. As our CFO, Bob Lewis was a key team member behind this initiative. Now, as the significant components of our restructuring are behind us, it has become clear that we need to commit additional talent and resources to growing our businesses. This is especially true in our Outsourcing business, which requires more senior level customer and sales relationships with the senior financial staff of our customer base. As we look at Outsourcing becoming a significant focal point of our expansion efforts, I believe Bob Lewis, who I have worked with for the past six years, with his strong financial background and his established leadership presence, is the perfect senior executive to lead this expansion.
As President of BCS, Bob Lewis will add financial strength and leadership to further accelerate the growth of this business by leading the heightened acquisition effort and organic sales growth in this business segment. I have personally challenged Bob to double the size of this business over the next few years, and I have full confidence that he will succeed."
Mr. Burton Continued:
"I am also pleased to announce that I have appointed Mark Hiltwein to the role of Executive Vice President and Chief Financial Officer. Mark's experience with my team and his day-to-day involvement in being a leader in our restructuring and turnaround efforts, gives me full confidence that he has the ability to go the distance and do whatever is necessary to help ensure our future success. The transition of Mark to the CFO role will be smooth and seamless as he has been a driver in our progress to date at Bob Lewis' and my side for the last several years. I expect the same superior performance from Mark today as I did from him yesterday.''
"We have built a strong and talented financial team at Moore since our arrival in December 2000. Bob Lewis and Mark Hiltwein have been very focused on ensuring that we have had the right resources in the right roles to allow for changes such as the ones we are announcing today. Because of these development efforts, we are in a position to announce another appointment that will add value to our team. Rich Sansone has been appointed Vice President and Controller. Rich is a tireless, focused executive who understands the internal workings of Moore and the importance of integrity in the role. I am looking forward to Bob, Mark and Rich all making significant contributions to our efforts to grow Moore and drive improved operating results.''
Prior to joining Moore in December 2000, Mr. Lewis has spent the majority of his career in printing related industries. He previously held a series of senior executive positions at World Color Press including the position of Executive Vice President and Chief Financial Officer where he managed three rounds of financing and several significant acquisitions, culminating with the company's merger with Quebecor Printing in the fall of 1999. Prior to his role at World Color, Mr. Lewis held senior management roles at L.P. Theabult, a U.S.-based commercial printer. Mr. Lewis earned his B.S. in Accounting and Computer Sciences from Rider University.
Prior to his current role Mr. Hiltwein was Senior Vice President and Controller for Moore Corporation Limited where he was responsible for overseeing the company's accounting, financial reporting, budgeting and planning functions. Prior to joining Moore Corporation, Mr. Hiltwein held a series of senior-level financial positions with L.P. Theabult Company, based in Parsippany, New Jersey. Most recently, he served as Thebault's Chief Financial Officer. Prior to that, he spent five years at the Cranford, New Jersey-based public accounting firm of Mortenson and Associates. A Certified Public Accountant, Mr. Hiltwein holds a B.S. degree in Accounting from Kean College in Union, New Jersey.
Prior to his new role, Mr. Sansone was Assistant Controller of the Moore Corporation since joining the company in 2001. Prior to joining Moore Corporation, Rich spent eight years at PriceWaterhouseCoopers LLP, where he most recently served as an audit senior manager for several public multinational companies and private start-up company audit engagements. He is a Certified Public Accountant and holds B.A. from Boston College and an MBA from St. John's University in New York.
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