Quebecor World Inc. has appointed Michel Desbiens as CEO and Claude Helie as CFO.
Desbiens replaces Charles G. Cavell who becomes deputy chairman of the board. Desbiens appointment takes effect immediately. Most recently, he worked for Donohue as president and CEO, a position he held until the company was sold to Abitibi Consolidated in 2000. He became a director of Quebecor World in April 2002 and was named CEO International Operations in November 2002.
Helie, who assumes his position Feb. 17, is replacing Christian Paupe, who has announced last summer his intention to resign to pursue other career opportunities. He has been with Quebecor Inc. since April 2002 working as executive vice president and CFO.
In other news, Quebecor World reported revenues of $6.2 billion for fiscal 2002 versus $6.3 billion in 2001. Net income was $279.3 million compared to $22.4 million. The year ended Dec. 31, 2002. Restructuring and special charges amounted to $24.1 million compared to $226.3 million after tax in the prior year.
