SunEdison: Chief Restructuring Officer appointed
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MARYLAND HEIGHTS - SunEdison, Inc. (OTC PINK: SUNEQ) announced that John S. Dubel has been appointed Chief Restructuring Officer of the Company.
Mr. Dubel will report directly to the independent directors of SunEdison's Board of Directors and lead the Company's restructuring efforts. He will have sole authority and discretion on behalf of the management of the Company with respect to all matters in connection with the Company's restructuring initiatives.
SunEdison and certain of its domestic and international subsidiaries filed voluntary petitions for reorganization under chapter 11 in the Southern District of New York on April 21, 2016. Mr. Dubel's appointment and the terms of his engagement remain subject to the approval of the bankruptcy court.
Mr. Dubel is the Chief Executive Officer of Dubel & Associates, LLC, a provider of restructuring and turnaround services to underperforming companies which he founded in 1999. He has over 30 years of experience in Board representation, turnaround management, crisis management, operational restructurings and divestments in the distressed space. He is currently serving on the Board and as the Liquidating Trust Manager of the ResCap Liquidating Trust. Most recently, Mr. Dubel was the Chairman and Chief Executive Officer of Financial Guaranty Insurance Company (FGIC), a monoline insurance company, and prior to that he was a partner in Gradient Partners, L.P., a single strategy distressed hedge fund.
Mr. Dubel is a past board member and officer of the Association of Insolvency and Reorganization Advisors, a Certified Insolvency and Reorganization Advisor and is a member of the Turnaround Management Association and the American Bankruptcy Institute. Mr. Dubel received a Bachelor in Business Administration degree from the College of William and Mary.
SunEdison develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. The company is one of the leading renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices around the world.
R. Phelps Morris, CFA