RR Donnelley Names Thomas Quinlan III CEO and John Paloian COO Following Retirement of Mark Angelson
Press release from the issuing company
CHICAGO, March 19 -- R.R. Donnelley & Sons Company announced today that Mark A. Angelson, Chief Executive Officer and a director, has advised the Board of Directors of his decision to retire from the company and that the Board has unanimously elected Thomas J. Quinlan III, currently Chief Financial Officer, to succeed him in these positions, as well as to become President of the company. John R. Paloian, Group President, RR Donnelley Global Print Solutions, will assume the role of Chief Operating Officer. The changes will take effect later in the spring of 2007, following an orderly transition.
"We have delivered on the promise to transform RR Donnelley into the world's leading provider of printing and business services, and have built a company positioned for long term excellence," stated Mr. Angelson. "We have also assembled an all-star management team, with leading talent from across the industry and across the world. This, combined with the readiness of Tom Quinlan, an industry veteran and my long-time colleague, fully to exercise his exceptional talent by assuming CEO responsibilities, enables me to take some long-planned personal time with full confidence in RR Donnelley's bright future. In John Paloian, Tom Quinlan has chosen an enormously experienced leader of unquestioned excellence. Together, they comprise the most powerful one-two punch in the industry."
Thomas J. Quinlan, who was named as RR Donnelley President and CEO Designate, said, "Among RR Donnelley's greatest strengths are the exceptional talent of our employees and the experience and depth of our leadership team. Our unparalleled ability to create and deliver integrated solutions across the world has positioned RR Donnelley for continued growth and value creation. I look forward to continuing to execute our proven strategy for serving customers with the broadest range of products and services, maintaining intense financial discipline, and striving to be the high quality and low cost producer in each segment that we serve."
Stephen M. Wolf, Chairman of the Board, added, "Tom Quinlan's leadership skills and management record in all aspects of our business, from operations to finance, make him the right person to assume the CEO's responsibilities and to lead RR Donnelley forward." Mr. Wolf continued, "Mark Angelson moves on with our thanks and our high regard. Since 2003, we have more than doubled revenues, profits, and shareholder value. Mark led this successful effort, assembled our superb management team for the future and delivered on his promise to return our company to its leadership position."
"There could be no better partner for me than John Paloian as we undergo the leadership transition. John brings an outstanding depth of management experience and industry expertise to this role," said Mr. Quinlan. "John is a proven results-producer who is respected throughout the industry for his strong background in sales and operations. He is also a great team builder, admired by our customers and our employees alike."
"RR Donnelley's unparalleled capabilities provide an exceptional platform for continued growth," stated Mr. Paloian. "I am looking forward to implementing further our proven strategy for delighting our customers with a complete portfolio of products and services, exercising financial discipline, and becoming the high quality and low cost producer in each segment."
Stephen M. Wolf, Chairman of the Board, added, "John Paloian has been one of the principal architects of RR Donnelley's resurgence. This is indicative of the management depth that distinguishes RR Donnelley. We could not be more pleased with the strength of our senior management team."
Thomas Quinlan, 44, joined RR Donnelley in February, 2004, and has served since 2006 as Group President, Global Services (comprising approximately 40% of RR Donnelley's revenues), and Chief Financial Officer. From 2004 to 2006, he served RR Donnelley as Executive Vice President, Operations, with primary responsibility for the integration of RR Donnelley and Moore Wallace. Previously, at Moore Wallace from 2000 to 2004, he served variously as Executive Vice President, Operations, Executive Vice President, Business Integration, Executive Vice President, Office of the Chief Executive and Treasurer. At Moore Wallace, he had primary responsibility for the integration of Moore Corporation Limited and Wallace Computer Services. He also had responsibility from time to time for all of Moore Wallace's sales and manufacturing functions, and for all corporate staff functions, including, among others, human resources, information technology, benefits, legal, treasury, tax and credit and collections.
From 1994 until 1999, at World Color Press, Inc., Mr. Quinlan served in various finance capacities, including as Senior Vice President and Treasurer. He has previous finance and treasury experience at Walter Industries, Marsh & McLennan and Kidder Peabody. He holds an MBA in finance from St. John's University and a Bachelor of Science from Pace University.
John Paloian, 48, began his career at RR Donnelley in 1986, rising through various sales and sales management positions to become Senior Vice President and General Manager, Magazine Publishing and Retail Services. In 2004 he was named Group President, Publishing and Retail Services and in 2006 assumed the role of Group President, RR Donnelley Global Print Solutions, with responsibility for RR Donnelley's magazine, catalog, book, retail services, short-run commercial print, logistics, and other offerings comprising more than 60% of the company's revenues.
From 1997 to 1998, Mr. Paloian served as President and then Group President at World Color Press, Inc. After the combination of World Color Press with Quebecor, he served in various management positions and as Co-Chief Operating Office of Quebecor World.
Mark Angelson, 56, became CEO of RR Donnelley in 2004, with the completion of the merger with Moore Wallace, which he served as CEO, having led the earlier merger of Moore Corporation and Wallace Computer Services. Previously, Mr. Angelson served variously as Deputy Chairman of Chancery Lane Capital, a private equity firm, and in several positions, including as Deputy Chairman, at Big Flower Press (now known as Vertis), and as an international lawyer in each of Singapore, London and New York.
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