Quebecor Announces New Operating Structure, Senior Appointments
Press release from the issuing company
John Paloian and David Boles named Co-Chief Operating Officers Quebecor World North America
MONTREAL--Sept. 25, 2002-- Quebecor World Inc. is pleased to announce senior leadership appointments that will further strengthen its operating structure and enhance customer service. John Paloian, President Magazine/Catalog and David Boles, President Retail and Sunday Magazines are assuming the roles of Co-Chief Operating Officers, North America. Both will report directly to Charles Cavell, President and CEO, Quebecor World Inc. This new operating structure reduces administrative duplication and positions Mr. Cavell so that he can work directly with senior operating management in the United States as he does with the senior Executives in Europe and Latin America.
"John and David have done an excellent job building and managing their respective businesses which now represent two-thirds of our North American revenues. Both John and David have provided leadership in implementing the merger of Quebecor Printing and World Color Press, as well as our recent restructuring initiatives, giving them an intimate knowledge of our industry-leading North American platform," said Mr. Cavell. "With these tasks now essentially complete, John and David are the ideal team to take this platform to the next level. I look forward to working closely with them to create new value for our shareholders, customers and employees."
Under this new structure Mr. Paloian will continue to manage the Magazine/Catalog Group and will assume responsibility for the Commercial/Direct Group now led by Fran Canzano. In addition, Dan Scapin, President of Logistics will report to Mr. Paloian. Mr. Boles will continue to manage the Retail and Sunday Magazine Group and will assume responsibility for Quebecor World's pre-media operations, Que-Net Media, the Directory Group and the Book Group.
"I am pleased to accept this new challenge and I am looking forward to working closely with David," said Mr. Paloian. "Many of our magazine and catalog customers avail themselves of the services of our Commercial/Direct Group including Logistics; this new structure will allow us to provide better and more efficient services across our customer base."
"John and I are committed to maximizing the value of our entire platform for our customers and our shareholders," said Mr. Boles. The grouping together of these businesses will enable us to find new and innovative ways to leverage our size and technological advantage creating even greater value together than we could alone."
Quebecor World Inc. (NYSE; TSX: IQW) is the largest commercial printer in the world. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World Inc. has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Belgium, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.
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