SUSSEX, Wisconsin (From the Milwaukee Journal Sentinel) -- Quad/Graphics Inc. on Monday announced a series of management changes that the company said would create a more streamlined organizational structure.

The Sussex-based printing and publishing company named two new division presidents and announced the planned retirements of two executives and the planned departure of another.

Eric Steinbach has been promoted to president of publishing solutions, after serving as general manager of retail inserts and directories. He will oversee long-run consumer publications, special interest publications, books and directories.

Also promoted from general manager is Tim Ohnmacht, who was named president of marketing solutions, which encompasses retail inserts, catalogs, direct mail, and commercial and specialty business.

In related moves, the company said two of its corporate officers and a third executive will be leaving the company.

Steve Jaeger, one of the company's five top corporate officers, will retire in the middle of next year. He has served as executive vice president and president of direct marketing and will now focus on his role as chief information officer.

Ray Minturn, who had been general manager of special interest publications and books, will retire "after a transition period," and Craig Faust, a corporate officer who has served as president of commercial and specialty, will be leaving the company "after a transition period," the company said.

The streamlined organizational structure is designed to save money and help customers by allowing "for quick and nimble decision-making," Joel Quadracci, Quad/Graphics chairman and CEO, said in a prepared statement. "In short, it will enable us to continue to generate value for the company and our shareholders despite ongoing industry challenges."

After the announcement, Quad's stock price rose 6%, closing at $12.77 on Monday.

Quad/Graphics reported in August that its losses for the first six months of the year widened to $80.3 million, or $1.68 per share, from $31.6 million, or 67 cents per share, in the first half of 2014. Sales in the first half of the year were off 0.6%, at $2.19 billion. Quad has said it is dealing with overcapacity as well as a sluggish advertising environment for publishers.

In September, the company announced plans to expand in Wisconsin, in a move that is expected to add 500 jobs in the state in the next few years. The expansion is part of the publishing company's move to consolidate facilities following its large acquisitions over the past five years, as well as recent wins of new publishing orders.

Through its expansion, Quad has grown from 11 plants in six states to more than 75 facilities in 28 states over the past five years. The expansion added seven new facilities in Wisconsin.

Quad said its expansion entails $100 million in new capital investments over five years, accompanied by $15.7 million in tax credits from the Wisconsin Economic Development Corp. as well as savings on its utility bills.