Hostess Brands Inc. is asking for a judge's approval to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans, HuffPo reports..
The maker of Twinkies, Ding Dongs and Ho Hos says the
incentive pay is needed to retain the 19 corporate officers and
"high-level managers" during the liquidation process, which could
take about a year. Two of those executives would be eligible for additional
rewards depending on how efficiently they carry out the liquidation. The
bonuses would be in addition to their regular pay.
The bonuses do not include pay for CEO Gregory Rayburn, who
was brought on as a restructuring expert earlier this year. Rayburn is being
paid $125,000 a month….
Read all about it at http://www.huffingtonpost.com/2012/11/29/hostess-executive-bonuses_n_2210515.html
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