X-Rite swaps interim CFOs as company recapitalises

Freiburger (pictured) has been heavily involved in the company’s recent recapitalisation process after it defaulted on loan repayments relating to its acquisition of GretagMacbeth and Pantone.

X-Rite chief executive Tom Vacchiano said: “Throughout the recapitalisation process, Brad worked closely with the company’s advisors to ensure all lender agreements and capital structure needs were fulfilled. He has been a great asset to our team and we appreciate him taking on additional responsibilities.”

In addition, X-Rite has named William Cosgrove as a senior financial advisor to the company.

Cosgrove was corporate vice president at Ford Motor Company prior to his retirement in March 2003, as well as chief financial officer for the Premier Automotive Group (PAG), Ford’s London-based operating unit for Aston Martin, Jaguar, Land Rover and Volvo.

Vacchiano said of Cosgrove: “He brings a deep understanding of the financial processes that will help support continuous improvement in our business performance.”

Read the original article at www.printweek.com.

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