Not the Best of Times For Industry Behemoths — Michelson

ROBERT BURTON, chairman and CEO of Cenveo Inc., is very decisive in his quest to uncover $100 million in cost savings at the publicly held printing conglomerate (ranked #5 on the 2005 PRINTING IMPRESSIONs 400 listing of largest U.S. and Canadian printers) he took over last fall in a forceful, and sometimes contentious, takeover. Citing the need for a major overhaul, he immediately fired the existing board and senior managers, and brought in his own team from his former World Color and Moore Corp. days. Numerous plant closures, cutbacks and rounds of staff reductions have since followed company-wide. Appeasing analysts and stakeholders, Cenveo’s once-floundering stock has become a darling on Wall Street since he assumed control, catapulting share prices more than 300 percent.