ENGLEWOOD, Colo.--June 22, 2005-- Cenveo, Inc., one of North America's leading providers of visual communications services, today announced that James R. Malone, founding and managing partner of Qorval, LLC has been named CEO of the company, effective Monday, June 27, 2005.
"We are very pleased to have Jim Malone, with his background, expertise and leadership qualities, take the reins of Cenveo," said Susan Rheney, Chairman of Cenveo. "Jim has a proven track record of helping companies grow and prosper. As we continue the process of evaluating our strategic alternatives and strive to be more flexible and efficient and to provide even greater levels of service to our customers and value to our shareholders, Jim's leadership will be invaluable."
Cenveo said Mr. Malone will also work closely with its financial and legal advisors as the company continues an aggressive and thorough evaluation of its strategic alternatives with the goal of maximizing shareholder value, as it first announced on April 18, 2005. The Company has said that it has already received expressions of interest from a number of parties and is actively reviewing them.
Most recently, Mr. Malone was founding and managing partner of Qorval, LLC, a financial and business restructuring firm based in Naples, Florida. In this capacity, he assumed the role of Chief Executive Officer of several companies including Mail Contractors Of America, Inc., Avborne, Inc. and Brown Jordan International.
"I look forward to leading the company towards meeting its financial and performance targets, while instilling confidence with customers, suppliers, employees and shareholders," said Jim Malone. "Both the industry and today's economy create some interesting challenges and I am excited about working with the entire Cenveo team to realize the company's vision of becoming the solution provider of choice for our customers."
Mr. Malone led the restructuring team at InaCom Corporation, a $5 billion public company with over 10,000 employees that was a leading single-source provider of information technology products and service to Fortune 1000 companies. In addition, Mr. Malone's successful career includes CEO positions with Anchor Glass Container Corporation, a leading glass container manufacturer; Grimes Aerospace, a global provider of integrated avionics, engines, systems and service solutions for the airlines industry; and Purolator Products Company. Under Mr. Malone's leadership, Purolator's market capitalization grew from $12 million to $350 million.
Mr. Malone is a graduate of Indiana University in Bloomington, Indiana. He currently serves on the boards of AmSouth Bancorporation in Birmingham, AL and Ametek, Inc. in Paoli, PA.
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