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June 30, 2015

Hostess vice chairman Rich Seban to step down

US snack cake maker Hostess Brands LLC has announced the retirement of its vice chairman Rich Seban.

US snack cake maker Hostess Brands LLC has announced the retirement of its vice chairman Rich Seban.

Twinkies owner Hostess said Seban would be retiring from his role after two years with the company.

Seban had held positions at Rich Foods, Sara Lee and High Liner Foods. A decade ago, he moved to Interstate Brands, which was part of the former Hostess Brands business that applied for Chapter 11 in 2012. His roles at the old Hostess included chief marketing officer, chief customer officer and COO.

He joined the new Hostess as president in 2013 after the company was acquired out of Chapter 11 by private-equity firms Apollo Global Management and C. Dean Metropoulos & Co.

There has been continued speculation Hostess's private-equity owners are looking to sell the business, although the investors have repeatedly declined to comment on the rumours since they hit headlines at the end of last year.

In a statement announcing Seban's departure, CEO Bill Toler said: "After careful consideration and no small amount of planning, Rich has made the difficult decision to bring a close to a fantastic career. A decision, though difficult, we are both very supportive of and could not be more thrilled about. We owe a tremendous amount of thanks to Rich for his contributions to Hostess over the last two years bringing the new Hostess Brands back to life."

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