Quebecor World Looks for New Leader
Quebecor World turned to Jean Neveu to replace Desbiens on an interim basis. Neveu has a long and successful history with the company, having served as president and CEO from 1989 until 1997 and as chairman of the board from 1989 until 2002.
The search for a permanent CEO is currently under way and Mulroney has not ruled out promoting from within the company.
Still, Quebecor World would find itself in the headlines yet again when the report came that co-COO John R. Paloian had left the company, as well. The reasons for Paloian's departure were not made public. However, David S. Boles had recently been appointed the sole COO of Quebecor World North America. Boles and Paloian had been named co-COOs in September of 2002 after the company made extensive changes to its operating structure. Boles has 20 years of experience in the printing industry. He has served as president of Quebecor World's North American Retail Insert and Sunday Magazine Group.
While it has been a tough year for the company, Mulroney believes that the tide is beginning to turn. Company executive say that they do not believe that the first quarter will be indicative of the rest of the year. Quebecor World has blamed its first quarter problems on rising fuel prices and continuing weak printing markets.