Texas-Based Hostess Gets OK For Executive Bonuses

NEW YORK (November 29, 2012)--A bankruptcy judge Thursday in New York approved Texas-based Hostess Brands’ plan to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans.

The maker of Twinkies, Ding Dongs and Ho Hos said the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year.

Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation.

The judge also approved the rest of the Hostess wind-down plan.

The process includes the quick sale of its brands, which also include Wonder Bread.

Hostess said it has received a flood of interest in the brands.

The Irving-based company's bankruptcy means loss of about 18,000 jobs.

KWTX-TV News 10 6700 American Plaza Waco, Texas 76712 (254) 776-1330 Fax (254) 751-1088
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 181435021 - kwtx.com/a?a=181435021
Gray Television, Inc.