The group expects that Cavell's responsibilities will transfer to Michel Desbiens, chief executive of international operations, and John Paloian and David Boles, co-chief operating officers for the group's North American business. However, the transition period could last until 31 December 2003.

Christian Paupe, Quebecor World's chief financial officer and chief administrative officer, also informed its board of his intention to "explore other career opportunities".

The announcements are the latest management changes at Quebecor World this year. Former Canadian prime minister Brian Mulroney joined as chairman in April, then earlier this month Desbiens - the former chief executive of newsprint maker Donohue - was appointed and charged with improving performance in its non-North-American operations.

Cavell became chief operating officer of Quebecor Printing in 1988 after its acquisition of the printing operations of BCE PubliTech. He helped Quebecor to complete over 60 acquisitions and the merger with World Color three years ago that made it the largest commercial printer in North America and Europe.

Quebecor World's parent group, Canadian multimedia conglomerate Quebecor, also said this week that it would raise 125m by selling up to 8m subordinate voting shares in its print division. It will use the funds to reduce its own debts and those of Quebecor Media.

Following completion of the sale, Quebecor will hold just 23.6% of the equity in Quebecor World, but will have over 75% of its voting rights.

Story by Gordon Carson