Parent Company of Twinkies Names New CEO following Second Bankruptcy

According to a recent Reuters report, Hostess Brands - the maker of Twinkies and Wonder Bread has named a new CEO as they continue to work their way out of a second bankruptcy.
This is the second bankruptcy for Hostess Brands in less than three years.  Gregory Rayburn has taken over as CEO while former Chief Executive Officer, Brian Driscoll's resignation becomes effective today.

The company, which filed for bankruptcy protection in January 2012 after it failed to reach an agreement with workers regarding the issues of pension and healthcare is also facing a possible strike by the Teamsters union.

As the new head of the company, Gregory Rayburn will oversee the Hostess' reorganization under Chapter 11 and the ongoing negotiations with its unions.

To learn more about the different types of bankruptcy, visit Foster Law Offices.

Posted in Chapter 11 Bankruptcy , gregory rayburn , hostess bankruptcy , twinkies bankruptcy