It is my opinion that the senior management of R.R. Donnelley & Sons, the largest commercial printer in the United States, should be fired for the financial disaster they have engineered when they decided to break the company apart into three different companies. One would keep the name RR Donnelley & Sons whereas the other two would be titled LSC Communications and Donnelley Financial Solutions. The disaster was completed in October 2016 and shareholder value has dropped consistently since then.
In an apparent effort to keep their jobs, RRD management is seeking solutions – either to create additional value through acquisition or possibly to sell itself at a premium which could activate whatever management golden parachutes may be in effect.
Like everything that management has done recently, there are few clues to the new direction. However, RRD did issue a press release that illustrates the “bafflegab” principle.
RRD APPOINTS ELIF SAGSEN-ERCEL AS CHIEF STRATEGY AND TRANSFORMATION OFFICER
R.R. Donnelley & Sons Company today announced that Elif Sagsen-Ercel has joined the Company as Chief Strategy and Transformation Officer. Sagsen-Ercel’s appointment reinforces the Company’s ongoing commitment to building a diverse and skilled leadership team to execute its long-term growth strategy and drive value for clients and stakeholders.
In this new role, Sagsen-Ercel will be responsible for partnering with the RRD executive leadership team to drive the ongoing execution of the Company’s growth strategy as a marketing and business communications company. Reporting directly to RRD’s President and Chief Executive Officer, Dan Knotts, Sagsen-Ercel will play a pivotal role as the Company helps its clients manage the full range of interactions that they have with their customers across every communications touch point.
Previously, Sagsen-Ercel served as Vice President of Strategy for Fortune Brands, where she led the development and execution of growth strategies across a diversified portfolio of businesses. Prior to that, Sagsen-Ercel held leadership roles in strategy and business development at Hillshire Brands and Sara Lee Corporation, as well as global consulting roles with Booz & Company and Deloitte.
“Elif’s extensive experience in developing and executing transformational growth strategies is a great fit for RRD as we continue to advance our strategy,” said Knotts. “Elif brings key skills that complement our talented and experienced leadership team and will provide important strategic support as we continue to enhance and expand our capabilities as a leading marketing and business communications company.”
Sagsen-Ercel earned her BA in Economics at Boğaziçi University and an MBA from University of Michigan’s Stephen M. Ross School of Business.
RRD is a leading global provider of multichannel business communications services and marketing solutions. With more than 50,000 customers and 43,000 employees across 34 countries, RRD offers the industry’s most comprehensive offering of solutions designed to help companies—from Main Street to Wall Street—optimize customer engagement and streamline business operations across the complete customer journey. RRD offers a comprehensive portfolio of capabilities, experience and scale that enables organizations around the world to create, manage, deliver, and optimize their marketing and business communications strategies.
Bafflegab at its finest.
RRD employees should keep their eyes open to the upcoming potential transformation because the handwriting is clearly on the wall.
Are you wondering, Am I Next?