US bakery group Interstate Bakeries Corp. said today (2 July) that director Philip Vachon has resigned from his job as head of a shareholder in the company.

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Vachon has stood down as chief executive and director of Liberate Technologies, which has a stock-trading plan for Interstate Bakeries shares.


At the end of February, Liberate held about 2.25m shares in Interstate Bakeries.


Last month, Interstate Bakeries, which filed for bankruptcy protection three years ago, won a four-month extension to file its Chapter 11 reorganization plan, detailing how it will repay creditors.

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