IKON Office Solutions to Implement Six Sigma Initiative

Press release from the issuing company

VALLEY FORGE, Pa.--March 11, 2003--IKON Office Solutions, the largest independent distributor of document management products and services in the U.S. with operations throughout North America and Europe, today announced plans to develop and implement a Six Sigma initiative to drive increased customer satisfaction and process improvement. IKON executive Andrew Twadelle will lead the program as Vice President, Six Sigma, reporting directly to IKON's Chairman and Chief Executive Officer. "IKON is focused on the needs of today's businesses, and we are working to align our internal structure and our processes to best meet our customers' needs and grow shareholder value," said Mr. Espe, Chairman and Chief Executive Officer. "Six Sigma is an extremely powerful methodology that has proven to increase customer satisfaction and overall productivity in many of today's leading businesses. I am confident that Six Sigma can be equally effective for IKON." Six Sigma is a specific and disciplined business process designed to assist companies in increasing profitability by streamlining operations, improving quality and eliminating possible defects in every process company-wide. While traditional quality programs have focused on detecting and correcting defects, Six Sigma provides specific methods to re-create the process itself - starting from the customer's vantage point - so that any defects are effectively eliminated. Mr. Twadelle is a seasoned business leader, with strong experience in corporate governance, reengineering, and customer-focused process improvement. In his most recent role as Vice President of Internal Audit at IKON, he effectively applied corporate governance practices throughout IKON, while also driving key business initiatives and process changes for the company. Prior to joining IKON, Mr. Twadelle was Director of Enterprise Risk Services for Deloitte & Touche LLP, where he worked with Fortune 1000 clients to identify and manage risk related to strategic, tactical, process and system areas. He also held management positions with Georgia-Pacific Corporation and Exxon, and participated in successful total quality management and reengineering projects for both companies. Mr. Twadelle holds a Bachelor of Science degree from Northeastern University, and an MBA from Houston Baptist University. "Andrew is a valued member of IKON's senior team, with a strong commitment to our customers and a wealth of experience with quality assurance programs," continued Mr. Espe. "I am confident that he will do a great job implementing a strong Six Sigma initiative for IKON, which will enhance our focus on our customers and productivity." In conjunction with this transition, IKON has promoted Neil Daniels to Vice President of Internal Audit. In his new role, Mr. Daniels will lead IKON's efforts to support efficient and effective operations, accurate financial reporting and compliance with laws and regulations. Most recently, Mr. Daniels served as IKON's Director of Accounting and Tax, and prior to joining IKON, he was Assistant Global Controller for Quaker Chemical Corporation and an Audit Manager at Price Waterhouse LLP. Mr. Daniels graduated magna cum laude from Temple University and is a CPA.