Hostess names CEO to steer through bankruptcy

NEW YORK (AP) - March 9, 2012

The Irving, Texas-based maker of Twinkies and Wonder Bread says Gregory F. Rayburn replaces Brian Driscoll, whose resignation is effective immediately.

Rayburn joined Hostess as chief restructuring officer in February and will now oversee the company's overall strategy and negotiations with its union.

Hostess filed for Chapter 11 bankruptcy in January, nearly three years after its predecessor emerged from bankruptcy proceedings.

The company has struggled with growing health concerns, increased competition and rising labor costs.

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