Insolvent US based renewable energy company SunEdison Inc. has appointed John S. Dubel as its Chief Restructuring Officer (CRO) on May 2, 2016. Dubel is the CEO of Dubel & Associates LLC, which provides restructuring and turnaround services to underperforming companies since 1999.
Dubel has experience of turnaround management, crisis management, operational restructuring and divestments in the distressed space. An official press release from SunEdison shared that he is currently serving on the Board and as the Liquidating Trust Manager of the ResCap Liquidating Trust.
Before coming on board of SunEdison, Dubel was the chairman and CEO of Financial Guaranty Insurance Company (FGIC), a monoline insurance company, and prior to that he was a partner in Gradient Partners, L.P., a single strategy distressed hedge fund.
He is a member of the Turnaround Management Association and the American Bankruptcy Institute.
The new member of SunEdison’s management team will report directly to the independent directors of the company’s board of directors and lead its restructuring efforts. However, since SunEdison and some of its subsidiaries have filed for reorganization under Chapter 11 (see SunEdison & its YieldCos), Dubel’s appointment remains subject to the approval of the bankruptcy court.
Photo Caption: Dubel has 30 years of experience in operational restructurings and divestments in the distressed space