William L. Davis - Donnelley

AT&T's decision to hire John R. Walter away from R.R. Donnelley & Sons left Wall Street analysts puzzled. Walter seasoned himself in the commercial printing industry, they noted, not the field of telecommunications. For that reason, the experts deemed AT&T's president unqualified. William L. Davis, Walter's successor at R.R. Donnelley, has faced similar scrutiny. When R.R. Donnelley appointed Davis chairman and CEO, industry insiders scratched their heads. Davis had no prior experience in the graphic arts. What could Emerson Electric's former senior executive vice president possibly do for North America's largest printer? The same thing he has done for other companies: pinpoint untapped potential