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Court OK's New Interstate Bakeries CEO

Law360 (February 16, 2007, 12:00 AM EST) -- Interstate Bakeries Corp. got permission Friday to name a new chief executive, two months after the board of directors’ opponents insisted that a change in leadership would allow the embattled bakery giant to finally exit bankruptcy protection.

A bankruptcy court judge gave the company the green light to make Craig Jung CEO and give him a seat on the board of directors, Interstate announced Friday.

In addition, the judge approved the company’s motion to extend its post-position debtor-in-possession financing facility from to Feb. 9, 2008 from...
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