Cenveo Names New CEO Amid Shareholder Battle
Print communications provider Cenveo named James R. Malone, founder and managing partner with Qorval LLC, as its new CEO this week in the midst of an attempt by dissident shareholders to take over the company's board of directors.Qorval, Naples, FL, specializes in turning around flagging companies.
Malone also has served as CEO of Mail Contractors of America Inc., Avborne Inc. and Brown Jordan International.
He will help Cenveo as it examines "strategic alternatives," the company said. Among the alternatives is a sale of the company. Cenveo said it is reviewing expressions of interest from unnamed parties.
Robert Burton of Burton Capital Management along with Goodwood Inc., both shareholders in Cenveo, Englewood, CO, have criticized management by the board of directors and have demanded that their own slate of nominees be installed on the board. That slate would install Burton as chairman/CEO.
Cenveo had said that it told Burton he could participate in the company's competitive search for a new CEO, but Burton refused. The company will hold a shareholder meeting Sept. 14 to vote on Burton's and Goodwood's petition.
Scott Hovanyetz covers telemarketing, production and printing and direct response TV marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
