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Brincko Named Restructuring Chief At Spansion

March 17, 2009 (FinancialWire) -- Flash memory maker Spansion Inc. (NASDAQ: SPSN) (Current Market Cap: US$3.54 Mil.) has retained John P. Brincko as its chief restructuring officer. Brincko runs the turnaround firm Brincko Associates, Inc. On March 1, Spansion voluntarily filed for reorganization under chapter 11 of the U.S. Bankruptcy Code.

As Spansion's CRO, Brincko will oversee negotiations with Spansion's creditors, including debt-holders, to restructure the company's approximately $1.5 billion in secured and unsecured debt.

Brincko was previously CEO of CalComp Technology, a Lockheed Martin subsidiary, president and COO of Barneys New York, CEO of Mossimo, CEO of Knudsen Foods and Foremost Dairies, CEO of Consolidated Freightways, CEO of Strouds, Sun World International, Globe Security, PCL Industries, and CRO of Franchise Pictures, Vans and others.

He has also held executive management positions with Max Factor, American Home Products, International Paper Company, Peat, Marwick, Mitchell and Grey Advertising.

Sunnyvale, California-based Spansion offers flash memory solutions designed to enable the storing and protecting digital content in wireless, automotive, networking and consumer electronics applications.

The company was previously a joint venture of AMD and Fujitsu.

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