RR Donnelley Names Thomas J. Quinlan III President and CEO and John R. Paloian Chief Operating Officer Following Retirement of M
20 March 2007 - 8:01AM
PR Newswire (US)
CHICAGO, March 19 /PRNewswire-FirstCall/ -- R.R. Donnelley &
Sons Company (NYSE:RRD) 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. About RR Donnelley RR
Donnelley (NYSE:RRD) is the world's premier full-service provider
of print and related services, including business process
outsourcing. Founded more than 140 years ago, the company provides
solutions in commercial printing, direct mail, financial printing,
print fulfillment, labels, forms, logistics, call centers,
transactional print-and-mail, print management, online services,
digital photography, color services, and content and database
management to customers in the publishing, healthcare, advertising,
retail, technology, financial services and many other industries.
The largest companies in the world and others rely on RR
Donnelley's scale, scope and insight through a comprehensive range
of online tools, variable printing services and market-specific
solutions. For more information, visit the company's web site at
http://www.rrdonnelley.com/ . Use of Forward-Looking Statements
This news release may contain "forward-looking statements" as
defined in the U.S. Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements
are qualified in their entirety by reference to the following
cautionary statements. All forward-looking statements speak only as
of the date of this news release and are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Readers are
strongly encouraged to read the full cautionary statements
contained in RR Donnelley's filings with the SEC. RR Donnelley
disclaims any obligation to update or revise any forward-looking
statements. DATASOURCE: R.R. Donnelley & Sons Company CONTACT:
Media, Doug Fitzgerald, Executive Vice President Marketing &
Communications, +1-630-322-6830, , Investors Dan Leib, Senior Vice
President - Finance, +1-312-326-7710, , both of R.R. Donnelley
& Sons Company Web site: http://www.rrdonnelley.com/
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