It’s been a very tough 12 months. But Gibson Brands Inc. is about to emerge from chapter safety with a brand new govt workforce.
Gibson filed for Chapter 11 chapter earlier this 12 months whereas beneath the management of CEO Henry Juszkiewicz. The chapter was rumored for months, with plenty of in-fighting between Juszkiewicz and a forged of annoyed collectors. Ultimately, the latter group plunged the corporate into chapter 11, forcing Juszkiewicz to the margins and taking monetary management over the corporate.
Earlier this month, the U.S. Bankruptcy Court for the District of Delaware authorised a restructuring plan. A number of weeks later, the refreshed Gibson has introduced its new govt forged.
At the helm, JC Curleigh will succeed Juszkiewicz as president and CEO of the corporate. He beforehand served because the president of Levi Strauss & Co.
“As a enterprise chief and a model builder, that is the start of a brand new period for Gibson that may construct on its confirmed heritage and iconic standing,” Curleigh remarked. “We are specializing in the longer term and off to a contemporary begin, with a robust monetary basis, a dedicated and skilled new management workforce and new possession that's equally passionate concerning the model.
Here’s a fast have a look at the incoming govt management workforce, with the appointments taking impact on November 1st.
- JC Curleigh, Chief Executive Officer
- Cesar Gueikian, Chief Merchant Officer
- Kim Mattoon, Chief Financial Officer
- Christian Schmitzas, Chief Production Officer
Gibson filed for Chapter 11 chapter in May after years of decline.
Bankruptcy filings subsequently revealed that the corporate was juggling north of $500 million in debt. As a part of its restructuring, Gibson and its lenders have agreed to a debtor in possession mortgage of as much as $135 million to proceed funding operations beneath the brand new govt workforce.
Curleigh will lead the brand new govt workforce as Gibson tries to rebuild its storied model. That’s not the best activity, given quite a few complaints of declining workmanship and defecting artists over time. “As the trade chief, we have now a chance and an obligation to set one of the best situations for achievement for our manufacturers, our followers, our companions and our personal prolonged workforce,” Curleigh mentioned. “I sit up for main Gibson confidently into the longer term.”