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Sat Dec 1, 2012, 08:38 PM

Hostess CEO Gregory F. Rayburn Bio

Gregory F. Rayburn (born 1959) is an American businessman. He has been a Chief Executive Officer (CEO) of several companies. He was the CEO of Hostess Brands in March 2012 until November 21, 2012.

After receiving an undergraduate and master of arts degree in Accounting from the University of Alabama in 1982 he became a partner for Corporate Recovery Services at Arthur Andersen until 1994.


From 2002 to 2003 Rayburn was CEO of Sunterra Resorts which had gone into bankruptcy in 2001. It became Diamond Resorts International.

From 2003 to 2004, he was Chief Restructuring Officer (CRO) of Worldcom at a time when it changed its name from Worldcom to MCI. The company eventually emerged from bankruptcy in 2004 and subsequently was purchased by Verizon Communications.

From 2004 to 2005 Rayburn was CRO of AAIPharma Services Corp. in Wilmington, North 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.

From 2005 to 2006, Rayburn was CEO of Muzak, which was struggling at the time. He failed to turn the company around, and was replaced by Steve Villa who made an unsuccessful attempt to merge with DMX Music. The company eventually went into bankruptcy in 20093 years after Rayburn left.

From 2009 to 2010, Rayburn was CEO of thoroughbred horse raising company Magna Entertainment which was in bankruptcy.

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.

From 2011 to 2012, Rayburn was CRO of the Indiana Downs race track which morphed into the Indiana Grand Casino racino.

In 2010 he started his private consulting business, Kobi Partners, LLC in Kiawah Island, South Carolina.
In 2011, Rayburn was named a board member of The Great Atlantic & Pacific Tea Company, which had gone into bankruptcy.

In March 2012, he became CEO of Hostess Brands, a month after the company had gone into bankruptcy. He initially was brought in as CRO in February 2012, to CEO Brian Driscoll but replaced Driscoll within a month.

After the Bakery, Confectionery, Tobacco Workers and Grain Millers' International Union went on to strike in November 2012, opposing court ordered wage concessions, he took the company into liquidation.


http://en.wikipedia.org/wiki/Gregory_F._Rayburn

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Arrow 11 replies Author Time Post
Reply Hostess CEO Gregory F. Rayburn Bio (Original post)
Pryderi Dec 2012 OP
virgogal Dec 2012 #1
dlwickham Dec 2012 #2
dmr Dec 2012 #11
RKP5637 Dec 2012 #3
Initech Dec 2012 #4
beveeheart Dec 2012 #5
niyad Dec 2012 #6
dballance Dec 2012 #7
DonCoquixote Dec 2012 #8
pipoman Dec 2012 #10
pipoman Dec 2012 #9

Response to Pryderi (Original post)

Sat Dec 1, 2012, 08:49 PM

1. Astonishing. There are 8 years missing in bio. God knows what he was

Last edited Sat Dec 1, 2012, 09:46 PM - Edit history (1)

doing then.

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Response to virgogal (Reply #1)

Sat Dec 1, 2012, 08:56 PM

2. probably sending other companies into bankruptcy as well

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Response to virgogal (Reply #1)

Sun Dec 2, 2012, 06:40 AM

11. What do you want to bet it was with Bain?

If not Bain, one just like it.

All the companies he managed suffered. I bet he was hired by venture capitalists to guide those companies through bankruptcy that brought them all gigantic returns.

Thinking about Hostess, I can imagine those many iconic brands would each bring in a pretty penny to those greedy vultures.

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Response to Pryderi (Original post)

Sat Dec 1, 2012, 09:00 PM

3. Nice track record.

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Response to Pryderi (Original post)

Sat Dec 1, 2012, 09:29 PM

4. A long history of sending companies into bankruptcy. Who would've guessed?

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Response to Pryderi (Original post)

Sat Dec 1, 2012, 09:38 PM

5. What a legacy.

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Response to Pryderi (Original post)

Sat Dec 1, 2012, 09:45 PM

6. the peter principle in operation?

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Response to Pryderi (Original post)

Sat Dec 1, 2012, 10:07 PM

7. No wonder the vulture capitalists hired him

He has quite a record for bankruptcy and that's really what they wanted. It was their real business plan.

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Response to Pryderi (Original post)

Sat Dec 1, 2012, 10:58 PM

8. so the workers are scum

and Hostess failure has nothimg to do with the fact they picked an awful CEO.

Right?

PS: you know, if I work in a bakery, and I screw up some pies, I get fired, but if I am a CEO, I may never see the inside of a bakery, and get to make millions ruining it.

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Response to DonCoquixote (Reply #8)

Sun Dec 2, 2012, 06:18 AM

10. Virtually every one of these companies was in trouble before he was brought in..

Nobody is going to destroy a company of this size in 8 months...

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Response to Pryderi (Original post)

Sun Dec 2, 2012, 06:17 AM

9. In fairness

there is a difference between someone who takes successful businesses and leads them to failure, and someone who specializes in managing businesses which are already struggling. This appears to be the latter.

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