The new owner of the Canwest newspapers, Postmedia Network Inc., has appointed a veteran news executive to head the company's business transformation efforts.

Wayne Parrish, a journalist for 20 years who has held senior executive roles within the Quebecor media group and also worked at the Toronto Star, was most recently CEO for Canada Basketball — the sport's national governing body.

His latest appointment as Postmedia's chief transformation officer was announced Tuesday by Paul Godfrey, the company's chief executive and a former colleague of Parrish.

Godfrey led efforts to buy the Canwest papers — which include the National Post created by Conrad Black and dailies from Vancouver to Montreal — and related internet publications including Canada.com.

The papers had been under bankruptcy protection as part of the restructuring of Winnipeg-based Canwest Global Communications, which bought the papers from Hollinger International while it was under Black's control.

"I have had the pleasure of working with Wayne in the past and know he has the right focus and strengths to champion the business transformation ahead," Godfrey said in a statement.

Postmedia has said it wants to revamp its business to generate more revenues from digital and internet operations in the coming years, while keeping a lid on operating costs.

'Exciting time'

Strong financial growth and a solid bottom line will be important if the company hopes to complete an initial public offering on the stock market before the end of the year.

Parrish formerly worked at the Toronto Sun and the Sun Media Group, which were acquired by Quebecor Inc. while Godfrey was the national newspaper group's chief executive.

Parrish has been general manager and executive editor of the Toronto Sun and vice-president strategy at Sun Media. He has also been president and CEO of Quebecor's Canoe Online web portal and Quebecor New Media.

The former Toronto Star sports columnist joined Basketball Canada in early 2008.

"It's an exciting time to come back to media," Parrish said in Tuesday's announcement.

"This is a new company, with a renewed focus. I look forward to joining this great team, building on the strengths we have across the country and working through the transformation."

Godfrey and Postmedia chief financial officer Doug Lamb are scheduled to brief analysts on a conference call Thursday after the company issues its inaugural quarterly report.