CHICAGO, March 19 /CNW/ -- 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
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
For further information:
For further information: Media, Doug Fitzgerald, Executive Vice
President Marketing & Communications, +1-630-322-6830,
firstname.lastname@example.org , Investors Dan Leib, Senior Vice President -
Finance, +1-312-326-7710, email@example.com , both of R.R. Donnelley & Sons
Company Web Site: http://www.rrdonnelley.com