Gregory F. Rayburn
Gregory F. Rayburn (born c. 1959) has been a Chief Executive Officer of several companies and is been brought in because of his expertise in restructuring or liquidation distressed companies. He was became CEO of Hostess Brands in February 2012 and announced the liquidation of the company in November 2012.
After receiving an undergraduate and MA degree in Accounting from the University of Alabama in 1982 h became a partner for Corporate Recovery Services at Arthur Andersen until 1994.[1][2]
From 1996 to 1998 he was CEO of Piece Goods Shops, a Winston-Salem, North Carolina chain with 318 stores that had gone into bankruptcy in 1991.[3]. Under Rayburn the company was sold to Mae's Fabrics.[4]
He was co-founder of Capstone Equity in 1999 and remained there until 2001.[5]
From 2002 to 2003 he was CEO of Sunterra Resorts which had gone into bankruptcy in 2001.[6] It became Diamond Resorts International.[7]
From 2003 to 2004 he was Chief Restructuring Officer (CRO) of Worldcom at a time when it changed its name from Worldcom to MCI and eventually emerging from bankruptcy in 2004 and then subsequently purchased by Verizon Communications.[8]
From 2004 to 2005 he was CRO of AAIPharma Services Corp. in Wilmington, Noth Carolina. The company had run into trouble in a scandal over its accounting practices in 2004 and went into bankruptcy in 2005 after selling its pharmaceutical division to Xanodyne.[9]
From 2005 to 2006 he was CEO of Muzak, which was struggling at the time. He failed to turn around the company and was replaced by Steve Villa who made an unsuccessful attempt to merge with DMX Music. The company eventually went into bankruptcy in 2009 -- 3 years after Rayburn left.[10]
From 2009 to 2010 he was CEO of thoroughbred horse raising company Magna Entertainment which was in bankruptcy.[11]
From 2010 to 2011 he was CEO of New York City OTB. After the New York Senate rejected his plans for a turn around, he shut the city's OTB operation.[12]
From 2011 to 2012 he was CRO of the Indiana Downs race track which morphed into the Indiana Grand Casino racino.[13]
In 2010 he started his private consulting business Kobi Partners, LLC in Kiawah Island, South Carolina.
In 2011 he was named a board member of The Great Atlantic & Pacific Tea Company, which had gone into bankruptcy.[14]
In February 2012 he became CEO of Hostess Brands -- a month after the company had gone into bankruptcy. After the Bakery, Confectionery, Tobacco Workers and Grain Millers' International Union went on to strike in November 2012 opposing the court order wage concessions, he took the company in liquidation.
References
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- ^ http://investing.businessweek.com/research/stocks/private/person.asp?personId=508078&privcapId=30194&previousCapId=4155690&previousTitle=Kraft%20Foods%20Group,%20Inc.
- ^ http://www.linkedin.com/pub/greg-rayburn/2b/a12/855
- ^ http://news.google.com/newspapers?nid=1734&dat=19930421&id=7lkcAAAAIBAJ&sjid=91IEAAAAIBAJ&pg=4643,5043426
- ^ http://news.google.com/newspapers?nid=1755&dat=19971120&id=1SkhAAAAIBAJ&sjid=e30EAAAAIBAJ&pg=3529,6909048
- ^ http://www.linkedin.com/pub/greg-rayburn/2b/a12/855
- ^ http://articles.baltimoresun.com/2000-06-02/business/0006020080_1_bankruptcy-chapter-11-resort
- ^ http://www.redweek.com/forums/messages?thread_id=11401
- ^ http://www.linkedin.com/pub/greg-rayburn/2b/a12/855
- ^ http://www.bizjournals.com/triangle/stories/2006/01/16/daily42.html
- ^ http://www.bizjournals.com/charlotte/print-edition/2010/11/12/muzak-replaces-villa-as-ceo.html?page=all
- ^ http://www.thoroughbredtimes.com/national-news/2009/april/07/rayburn-appointed-interim-ceo-for-magna.aspx
- ^ http://www.nypost.com/p/news/local/otb_says_it_will_shut_down_friday_wZRLmHSFbGrbiuNO5mO0zK
- ^ http://www.linkedin.com/pub/greg-rayburn/2b/a12/855
- ^ http://www.linkedin.com/pub/greg-rayburn/2b/a12/855