In the aftermath of a disastrous year, Yellow Media has installed some banking and restructuring heavyweights to help turn the company around.
David Leith, the former head of investment banking at CIBC World Markets, and Bruce Robertson, formerly of Brookfield Asset Management and AbitibiBowater are now on board to help the company transition from a print base to a digital base.
Mr. Leith has loads of corporate experience, with current board seats that including MTS, and Mr. Robertson is particularly adept at restructurings, considering he has been the chief restructuring officer at AbitibiBowater.
Yellow Media has also brought Craig Forman, a digital exec, on to its board, to help with the transition away from print.
The task won't be easy. Not only have profits taken a big hit, Yellow Media had to sell Trader Corp., its main asset, last March. Now, the company is effectively starting from scratch and has lost a lot of its brand recognition.
Tim Kiladze