ACCO Brands Corporation (NYSE: ABD), a world leader in select categories of branded office products, today announced a new organizational alignment to drive growth, innovation, and further operational effectiveness.
“ACCO Brands has completed all of the major projects needed to deliver on the $40 million of cumulative cost synergies by the end of 2008,” said David D. Campbell, chairman and chief executive officer, ACCO Brands Corporation. “With these projects behind us, the company will now increase its emphasis on driving growth. We have realigned positions to reflect this goal and I am confident that the members of our management team that have been given new roles are the right leaders to propel us into this next phase of growth.”
The new organizational alignment marks the successful completion of the multi-year integration of the company’s office products business, under the leadership of Dennis L. Chandler, and occurs at a natural transition time for the company. To globally leverage its operational effectiveness, the company has made the following changes to its management structure:
Dennis L. Chandler has been appointed to the newly created position of president of global market development and trading companies, with responsibility for the indirect sales and marketing channel for all of the company’s businesses on a worldwide basis. Chandler most recently served as president and chief operating officer of the Office Products Group since 2005, leading the integration of the office products businesses of the former ACCO World and General Binding Corporation, as well as planning and executing the company’s more globally efficient operating model.
Boris Elisman has been appointed president of the global Office Products Group, effective immediately. Elisman has been president of ACCO Brands Corporation’s Computer Products Group since 2004, where he led the business to significant sales growth and broadened geographic and channel penetration. The company has initiated a search for a new president of the Computer Products Group.
Gregory J. McCormack has been appointed to the newly created position of senior vice president of global supply chain and information technology. McCormack will lead the effort to optimize the company’s supply chain and operating systems globally. McCormack most recently served as senior vice president, global shared operations, with responsibility for logistics and information technology.
“This new organizational alignment will greatly enhance our ability to deliver top- and bottom-line growth,” Campbell added. “By streamlining our internal structure, better aligning our leadership capabilities, and leveraging our functional strengths, we will enable our businesses to focus on meeting the needs of consumers around the world. We will fully capitalize on the global scope and scale of our company’s products and processes. In addition, this refined structure will enable us to efficiently integrate other office products businesses as the right acquisition targets become available down the road.”
All three executives will report directly to David Campbell.
About ACCO Brands Corporation
ACCO Brands Corporation is a world leader in select categories of branded office products, with annual revenues of nearly $2 billion. Its industry-leading brands include Day-Timer®, Swingline®, Kensington®, Quartet®, GBC®, Rexel, NOBO, and Wilson Jones®, among others. Under the GBC brand, the company is also a leader in the professional print finishing market.
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