Desjardins says he's leaving Transcon on a high note

Luc Desjardins, the CEO of Transcontinental Inc., told analysts during a conference call yesterday that he is leaving the company on a high note. "I am 55 and I completed the mandate I was hired for. The company is in good shape and in solid position for the future."

Desjardins will step down in February, handing over to François Olivier, president of printing products and services.

Transcontinental is primarily a printing and direct marketing firm, but is also Canada's largest consumer magazine publisher.

Third quarter 2007 profits rose from $24.7 million to $27.8 million a year ago, with a per-share increase of 18 per cent from 28 cents to 33 cents.

Total revenues inched three per cent higher, to $546.5 million from $528.9 million in the year-ago quarter.