Cenveo, Inc. announced that it has reached an agreement with its major stakeholders to clear the path for approval of the Company's first amended plan of reorganization, which will enable the Company to emerge from Chapter 11 this summer. The Plan of Reorganization has the support of over 70% of the Senior Secured Noteholders, the holders of certain funds and accounts under management that collectively own or control a percentage of the Company's senior secured first-in, last-out notes, who also hold a percentage of the first lien notes, second lien notes, and senior unsecured notes, as well as the support of the Unsecured Creditors Committee whose members consist of trade creditors, the Pension Benefit Guaranty Corporation, certain unions, and the indenture trustee for the unsecured noteholders. A hearing before the United States Bankruptcy Court for the Southern District of New York is scheduled for June 7, 2018 for the Company to seek approval of its first amended disclosure statement and to establish the voting procedures for the Plan of Reorganization. The terms of the Plan of Reorganization will enable the Company to exit Chapter 11 with a highly deleveraged balance sheet, which will allow the Company to focus on its operations and grow its businesses. Click Read More below for additional information.
Thysse, best known for generating innovative brand solutions and serving its local community, announced an expanded internal leadership structure. The adjustment will bring the company closer to its vision of becoming the premier model of a Brand Experience Provider. The restructuring includes new internal roles for owner and company President, Jason Thysse, who will serve as Chief Executive Officer, and for Dean Bott, former General Manager, now serving as President.
The new leadership structure allows Jason to focus on strategy that shifts Thysse into the future, transitioning the company to one that encourages leadership at every level. This move will empower Thysse employees to act with autonomy in supporting the company’s overall vision while fostering accountability and effective decision-making in their daily work.
In his new role as President, Dean Bott will draw on his extensive experience with process education within the print industry, assuming responsibility for day-to-day company functions. Already a key leader in the company, Bott will now oversee leadership, finance, marketing, sales and operations – both creative and manufacturing.
Even in adjusted roles, Jason and Dean will continue to work together to lead the company to its fullest potential.
“Eighty-one years ago, my grandfather founded this company on passion, pride, and craftsmanship. This next evolution puts Thysse on a path that continues to fulfill that legacy, leading us toward achieving our goal of becoming the accepted authorities in every brand offering we provide.” Jason Thysse, CEO