Hostess CEO Steps Down Amid Compensation Ruckus

Law360, New York (March 9, 2012, 4:28 PM EST) -- Hostess Brand Inc.'s CEO Brian Driscoll has resigned and been replaced by veteran turnaround executive Gregory F. Rayburn, who will head the company as it works to emerge from its contentious bankruptcy, Hostess announced Friday.

In the face of criticism over outsized salary requests that could have topped $5 million, Driscoll left his post abruptly Friday, succeeded by Rayburn, who joined the company last month as its chief restructuring officer.

The company issued a statement thanking Driscoll for his efforts during a “very difficult period for...
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