Brian Mulroney

MONTREAL—In a sharp and assertive tone, Brian Mulroney, chairman of Quebecor World, attempted to put down any industry rumors that the company's recent management troubles can be traced back to Pierre Karl Peladeau, chief executive of Quebecor Inc. "I mention this because of facile commentary in some quarters about a 'P.K. discount', with the suggestion that there is constant interference that undermines operating management," Mulroney told shareholders at the company's annual meeting recently. There have been rumblings among some shareholders that the recent wave of executive departures, as well as the announcement that the company would miss first quarter profit expectations, was the result of Peladeau's

MONTREAL—Michel Desbiens has been tapped to head Quebecor World as CEO, replacing long-time chief executive Charles G. Cavell, who first announced his retirement late last year. Desbiens is best known in the industry as the former president and CEO of Donohue, a position he held until the company was sold to Abitibi Consolidated in 2000. Desbiens joined Quebecor World as a director in April 2002 and was named CEO of international operations in November 2002. His appointment was widely expected after Cavell announced that he planned to retire later this month. Desbiens has a long history in the industry and his leadership at Donohue reportedly brought him