Worldcolor
TSX : WC
TSX : WC.U

September 11, 2009 18:29 ET

Andrew P. Hines Joins World Color as Interim Chief Financial Officer

MONTREAL, QUEBEC--(Marketwire - Sept. 11, 2009) - World Color Press Inc. (TSX:WC)(TSX:WC.U) ("World Color") announced today the appointment of Andrew P. Hines as interim Chief Financial Officer. Mr. Hines has extensive experience in senior finance positions with major corporations including RJR Nabisco, OMC, Adidas, F.W. Woolworth & Co. and C.P. Kelco.

"I am very pleased that Andy has agreed to join World Color as CFO on an interim basis. I have worked with him in the past, and he will stay with us as long as we need him. His extensive experience across many industries with large and small companies will be a great asset to World Color and our finance team," commented Mark Angelson, Chairman and CEO World Color. "Andy is a seasoned, unflappable veteran, and has a wide-ranging background in many areas including cash management, financial controls and, most importantly, providing strategic and operational support for underperforming companies that subsequently achieved substantial investment returns."

"I am very pleased to be joining Mark and his team. World Color is embarking on a new and exciting chapter in its history and I believe my prior roles in senior finance and operations positions at major public companies will help our finance team contribute to our future success," said Mr. Hines.

Mr. Hines' office will be located at World Color's corporate headquarters in Montreal. His appointment as interim CFO will allow World Color to benefit from his experience while at the same time conducting an internal and external search process for a permanent CFO.

Mr. Hines' career has included senior positions at a number of major public and private companies, extensive turnaround, interim management and performance enhancement assignments for premier equity and distressed debt investors. Since 2000, Mr. Hines has been managing partner of Hines & Associates, a restructuring and financial management advisory firm.

Mr. Hines was a senior financial officer at RJR Nabisco at the time of its acquisition by Kohlberg Kravis Roberts & Co., and helped raise $25 billion in debt and equity to fund the transaction. As a senior member of that management team, he participated in acquisitions and mergers that ultimately resulted in the creation of one of the world's largest companies. Subsequently, he participated in the successful rebuilding of Adidas, where he functioned as COO/CFO. The company now is public, and is the largest athletic footwear and apparel company in the world.

Mr. Hines, a CPA, began his distinguished career in public accounting with PricewaterhouseCoopers, where he had responsibility for manufacturing, retail and publishing industry clients. He served with the U.S. Marine Corp and graduated from St. John's University. He is a member of AICPA, NYS of CPAS, FEI and NJTMA. He is the Audit Committee Chairman of Hughes Telematics Inc.

Forward-looking statements

To the extent any statements made in this press release contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are forward-looking information within the meaning of the "safe harbor" provisions of applicable Canadian securities legislation (collectively "forward-looking statements"). These forward-looking statements relate to, among other things, prospects of the Company's (the "Company") industry and its objectives, goals, strategies, beliefs, intentions, plans, estimates, projections and outlook, and can generally be identified by the use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "continue" or the negatives of these terms, variations on them and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. The Company has based these forward-looking statements on its current expectations about future events. Forward-looking statements do not take into account the effect of transactions or other items announced or occurring after the statements are made. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset write-downs or other charges announced or occurring after the forward-looking statements are made.

Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct, and forward-looking statements inherently involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such forward-looking statements.

Important factors and assumptions as well as the Company's ability to anticipate and manage the risks associated therewith that could cause actual results to differ materially from these expectations are detailed from time to time in the Company's filings with the U. S. Securities and Exchange Commission ("SEC") and the securities regulatory authorities in Canada, available at www.sec.gov and www.sedar.com (copies of which are available on www.quebecorworld.com). The Company cautions that any such list of important factors that could affect future results is not exhaustive. Investors and others should carefully consider the factors detailed from time to time in the Company's filings with the SEC and the securities regulatory authorities in Canada and other uncertainties and potential events when relying on its forward-looking statements to make decisions with respect to the Company.

Unless mentioned otherwise, the forward-looking statements in this press release reflect the Company's expectations as of September 11, 2009, being the date at which they have been approved, and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.

About World Color Press

World Color Press is an industry leader in providing high-value and comprehensive print, digital and related services to retailers, catalogers, publishers, branded-goods companies and other businesses worldwide. Founded in 1903, World Color's products include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics and mail list technologies. During its century-long existence, World Color has had a rich tradition of leadership and excellence. Its team of approximately 20,000 employees is focused on helping clients meet their needs from facilities located in the U.S., Canada, Argentina, Brazil, Chile, Colombia, Mexico and Peru. More information about World Color can be found on its Web site at www.quebecorworld.com.

Contact Information

  • Tony Ross
    Vice President, Communications
    514-877-5317
    800-567-7070
    or
    Roland Ribotti
    Vice President, Corporate Finance and Treasurer
    514-877-5143
    800-567-7070