Angelson Appointed Chairman and CEO of World Color Press
MONTREAL—September 8, 2009—World Color Press Inc. (TSX: WC, WC.U) today announced that Mark Angelson, who has been non-executive Chairman of the World Color Board of Directors, will become Chairman and Chief Executive Officer, effective immediately, and will continue to work with the Board on the Company’s strategic direction while managing World Color on a day-to-day basis. Jacques Mallette, the Company’s Chief Executive Officer, will leave World Color to pursue outside business interests.
“We are very pleased that Mark has agreed to become the new leader of World Color,” said Tom Ryder, the newly elected Lead Independent Director of the World Color Board of Directors. “Mark is a dynamic and proven leader with an unparalleled track record in the printing industry. He is a change agent who has spearheaded the development of corporate cultures that are entrepreneurial, collaborative and hard-driving. These attributes are essential in order to meet the challenges faced by today’s printing industry.”
Ryder continued: “World Color has a rich tradition of leadership and excellence. The Board and I are confident that Mark will take the best of World Color – its loyal customer base, dedicated employees, leaner cost structure and a much improved balance sheet – and add a renewed spirit and vigor as we embark on World Color’s next great chapter.”
Angelson, whose office will be at the Company’s headquarters in Montreal, said: “I am honored to be asked to lead a company with such deeply talented and dedicated employees as we begin a new chapter in our storied, century-long existence. While well versed in the industry, I am new to the Company. My first priority will be working with our sales force to further strengthen our customer base. I will simultaneously lead an assessment of our operations and management and make recommendations to the Board with a view to optimizing our business in the current challenging economic environment.”