MONTREAL—Four members who also serve on the board of directors for Quebecor Inc. and Quebecor Media have resigned their board posts with Quebecor World. Pierre Karl Peladeau, Erik Peladeau, Jean Neveu and Jean La Couture have determined that "as a result of claims that have been filed by Quebecor Inc. and its subsidiaries as part of Quebecor World's court protected restructuring process, their resignations are advisable."
Quebecor World, the Montreal-based magazine, book, catalog, direct mail, directory, magazine and retail insert printer. has experienced a roller coaster of fortunes in 2008—bankruptcy, a new leader, new accounts, lost accounts, done deals gone sour, financing misfires and triumphs, shuttered facilities, lost jobs, and now...a new hope.
MONTREAL—Pierre Karl Peladeau, who helped spearhead the acquisition of World Color, has been named president and CEO of Quebecor World. He replaces Jean Neveu, who served the dual roles in an interim basis since March 2003. Peladeau has served a number of roles with the company, including COO of Quebecor Printing. In other company news, TRC Capital offered to purchase up to three million Quebecor World subordinate voting shares, representing about 3.5 percent of all outstanding subordinate shares, at a price of C$25.25 each. In response, Quebecor World recommended that shareholders reject the offer, which was 3.8 percent lower than its closing price on February 25,
BY chris Bauer Managing Editor The year 2003 can be summed up as a period that had its ups and downs as far as the commercial printing industry is concerned. For every plant closing, there seemed to be a plant expansion project. For every poor financial report, there was a major capital equipment expenditure. Some big names left the industry, making way for a new generation of leaders. And the industry's biggest annual trade show left attendees and exhibitors with a feeling of hope. Let's take a look back. The beginning of the year brought with it changes to the top spots at several
MONTREAL—Quebecor World revealed plans to cut 1,000 jobs from its worldwide operations after the company lost $62 million in its second quarter. The loss includes write downs and restructuring charges of $82 million for the quarter. In 2002, Quebecor World had earnings of $64 million in the second quarter. The restructuring reflects the continued weakness of the printing industry in all of Quebecor World's markets, says Claude Helie, CFO. Helie revealed that three quarters of the affected employees were already gone at the time of the announcement. The majority of the job cuts came from the company's U.S. operations. The job cuts will cost the company