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Courier Shuffles Execs: Names New CFO, Says George Nichols will retire

Press release from the issuing company

NOV 13, 2006-- Courier Corporation announced that George Q. Nichols, Chairman of Courier's National Publishing Company subsidiary and a widely known figure in the book industry, will be retiring in June 2007 after 30 years of service. In conjunction with Mr. Nichols' impending retirement, Courier announced a series of moves to ensure continuity of service to customers and strengthen its management ranks in preparation for future growth. "George Nichols' decision to phase out of day-to-day operations at National was inevitable sooner or later," said Courier Chairman and Chief Executive Officer James F. Conway III. "We always hoped it would be later. But we have prepared for it, and George has more than earned our thanks and best wishes. His retirement will close a chapter in one of the most distinguished careers in our industry, though there are many more to come, as he will continue to serve as a member of Courier's Board of Directors. With the advent of George Nichols' retirement, Peter Tobin, Executive Vice President of National Publishing and Courier Companies, Inc., has shifted his focus to concentrate on National's key account relationships. Together with Mr. Conway, he has taken on particular responsibility for meeting the growing needs of a global missionary organization that is the company's largest customer. For the last three years Mr. Tobin has worked closely with both Mr. Nichols and Mr. Conway to prepare for the management transition as well as a move to next-generation printing and binding technology for the religious market. Simultaneously with the announcement of the transition at National Publishing Company, Courier announced four other promotions within its management ranks. Robert P. Story, Jr., Senior Vice President and Chief Financial Officer at Courier Corporation since 1989, was named Executive Vice President and Chief Operating Officer, with overall operational responsibility for the Corporation's book manufacturing and publishing segments. Peter Folger, Vice President and Corporate Controller since 1992, was named Senior Vice President and Chief Financial Officer, succeeding Mr. Story. Kathleen Leon, appointed Courier's Assistant Controller in 1991, was named Corporate Controller, succeeding Mr. Folger. And Peter Clifford, Vice President, Production Services for Courier's subsidiary, Courier Companies, Inc., since 1995, was named Vice President and an officer of Courier Corporation. "All these moves mark a natural progression for our company," said Mr. Conway. "Bob Story and Peter Folger have worked with me at Courier for more than 20 years, and have been instrumental in Courier's outstanding financial performance for the last ten. In addition, Bob has been at the center of our success in shaping our market-focused strategy and identifying, acquiring and integrating companies in both of our business segments. For both Bob and Peter, the new titles simply acknowledge the orderly evolution that has already been taking place, and I look forward to many more years of success together. I am also pleased to see Kathy Leon advance to the position of Corporate Controller, a position for which she has been preparing for more than a decade under Peter's guidance."

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