World Color Press Inc, formerly Quebecor World, on Tuesday named Mark Angelson as its chairman and chief executive officer, effective immediately.

Jacques Mallette, the company's current CEO, will leave the company to pursue outside business interests, World Color Press said in a statement.

Angelson, former chief executive of U.S. printing company and spurned suitor R.R. Donnelley & Sons, was appointed to the company's new nine-member board in June.

Quebecor World, which emerged from its insolvency proceedings in July, changed its name to World Color Press after the reorganization. Last week, the commercial printer's finance chief Jeremy Roberts had left the company to assume a new role at George Weston Ltd and Loblaw Companies Ltd.

World Color Press shares closed at C$10.00 Friday on the Toronto Stock Exchange. (Reporting by Chakradhar Adusumilli in Bangalore; Editing by Dan Lalor, Ratul Ray Chaudhuri)