Quebecor World Reorganizes, Names New Top Executive
MONTREAL—A reorganization of the U.S. book and magazine platforms has prompted Quebecor World to close two facilities, costing more than 700 employees their jobs. The troubled printer also named a new chief executive.
A book manufacturing facility in Kingsport, TN, (visit www.piworld.com for history) will be shuttered, leaving 425 without work, and a magazine plant in Brookfield, WI, will close, impacting 310 jobs. The work produced at the affected shops will be transferred to other Quebecor World member companies. The closures are expected to be completed by the third quarter of 2006.
The company also named former Sun Chemical top executive Wes Lucas as its president and CEO, replacing Pierre Karl Péladeau. Lucas took control of the printing company May 11th.
Péladeau, who is president and CEO of Quebecor Inc., will remain chairman of Quebecor World’s executive committee, as well as become vice chairman of the board and CEO of Quebecor Media. Quebecor World is in the midst of a comprehensive investment and retooling plan, orchestrated by Péladeau, as well as a cost-containment and reduction initiative.
In addition to his duties as chairman, president and CEO of ink manufacturer Sun Chemical, Lucas previously served in executive positions with AlliedSignal’s engineered materials sector (now Honeywell), Nova Chemicals and Chevron Corp.