We are highly disappointed once again with our printing operations, said Peladeau in a conference call with analysts after Quebecor released its third-quarter results. The worlds largest commercial print group last week reported a 40% fall in net income and a 1.9% drop in revenues for the third quarter.

Our objective is very simple, he added. It is to reinstate the Quebecor culture. It is made of discipline, control and a lean and mean approach to management.

Criticising former Quebecor World chief executive Charles Cavell, who left earlier this year, Peladeau said: Weve got to reinject a high level of accountability, something that was lost under the previous management.