Hutchinson leaves c.f.o. post at I.B.C.
July 17, 2007
by Eric Schroeder
KANSAS CITY — Interstate Bakeries Corp. announced Ronald B. Hutchinson has resigned as executive vice-president and chief financial officer, effective July 31. J. Randall Vance, senior vice-president finance and treasurer, will take over as interim c.f.o. until a permanent successor is named, I.B.C. said.
"It is with regret that I accept Ron’s resignation at this time," said Craig Jung, chief executive officer. "Ron has been an integral member of the executive team, and instrumental in leading the company’s Sarbanes-Oxley compliance efforts and bringing the company current with its Securities and Exchange Commission filings."
Prior to joining I.B.C. in September 2004, Mr. Vance was with Farmland Industries, Inc. for 13 years, most recently as vice-president and treasurer. He received a bachelor’s degree and master’s degree in finance from the University of Missouri.
"We are fortunate to have someone with Randy’s financial experience to help move us forward in the financial function," Mr. Jung said. "Since Randy joined the company three years ago, he has been responsible for restructuring an extensive risk management program for I.B.C., negotiating amendments to our credit facilities, managing our letter-of-credit portfolio and developing reliable financial controls and discipline."