Hostess Names CEO after Chapter 11 Reorganization

Hostess Brands, Inc. announces that it has appointed Gregory F. Rayburn, as President and Chief Executive Officer. He also was named to the company’s Board of Directors. Rayburn replaces Brian Driscoll.

 

As CEO, Rayburn will oversee the company’s reorganization under Chapter 11 as well as overall corporate strategy and ongoing negotiations with the company’s unions. He joined Hostess last month as the company’s Chief Restructuring Officer.

 

Rayburn has more than 29 years of experience working with troubled businesses in their efforts to create and maximize value for all stakeholders. He has served as CEO, COO or CRO of several high-profile companies, including Indianapolis Downs, LLC; New York City Off Track Betting Assn.; Magna Entertainment Corp.; AAIPharma Services and Sunterra Corp. He served as CRO for WorldCom during what was then the largest U.S. bankruptcy filing in history.

 

Rayburn is a former director of The Great Atlantic & Pacific Tea Co. and holds an M.A. in accounting and a B.S. in business and marketing from the University of Alabama. He is a member of the American Institute of Certified Public Accountants and serves as an expert witness in federal and state courts on issues including business viability, valuation, strategic plan assessment, fraud, damages and bankruptcy reorganizations.