The CEO of R.R. Donnelley & Sons Co. plans to retire from the printing company, the company said.
William Davis said he plans to retire as soon as successor is found. The Donnelley board has begun a search process.
Davis had been with the Chicago-based printer since 1997. He made Donnelley “a modern manufacturing operation,” said board member and former vice chairman James R. Donnelley in a statement.
Davis said when he joined the firm, he planned to lead for five to seven years and then retire.
The company said that earnings for 2003 remain on track, in a range of $1.25 to $1.40 per share, but that it will likely come in at the lower end of that range.
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