|By PR Newswire||
|December 5, 2012 12:22 PM EST|
IRVING, Texas, Dec. 5, 2012 /PRNewswire/ -- Hostess Brands Inc. today issued the following statement to clarify recent reports about Chairman and CEO Gregory Rayburn's compensation.
Mr. Rayburn is a retained professional in the Company's bankruptcy proceedings and, as such, his compensation is subject to the final approval of the Court. Since Mr. Rayburn is not a Hostess employee, he receives no health or other benefits. Similarly, he is not included in any incentive plans that have been approved by the Court for the wind down of the Company.
Mr. Rayburn remains committed to leading the wind down efforts, including the marketing of the Company's assets, in order to maximize value for all stakeholders, including employees.
SOURCE Hostess Brands Inc.