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June 23, 2009 — Montréal, Canada –The creditors of Quebecor World, North America's second largest printing company, will announce in a court filing today the names of the company's new independent directors. Mark Angelson, former CEO of RR Donnelley and leading architect of the 2003-2007 printing industry consolidation, will be Chairman. He will be joined by publishing industry leaders Tom Ryder, former Chairman and CEO of Reader's Digest, and Jack Kliger, former President and CEO of Hachette Filipacchi. Mr. Ryder and Mr. Kliger are past Chairmen of the Magazine Publishers' Association. Mr. Ryder also sits on the boards of Amazon.com, Virgin Mobile and Starwood Hotels.
Raymond Bromark, chairman of the audit committee of CA, Inc., and a retired senior partner of PricewaterhouseCoopers, also will be named to the board, along with turnaround specialist James Gaffney, printing industry veteran Michael Allen, Canadian lawyer and former senior officer of Alcan, Inc., David McAusland, and Gabriel de Alba, managing director and partner of Catalyst Capital Group of Toronto.
A spokesman for the director designees said, "The highly fragmented printing industry must undergo further consolidation, and this company will be an important part of that process. We look forward to providing overall strategic guidance, best governance practices and oversight".
Jacques Mallette, the Company's Chief Executive, is expected to be the only continuing member of the board. The new board members will be seated upon Quebecor World's emergence from its insolvency proceedings, which is expected to occur in July. The director designees do not expect to make any further statements.
About Quebecor World
Quebecor World Inc. is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The Company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies and other value-added services. Quebecor World has approximately 20,000 employees working in approximately 90 printing and related facilities in the United States, Canada, Argentina, Brazil, Chile, Colombia, Mexico, and Peru.
Web address: www.quebecorworld.com
Source: Quebecor World Web Site
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