Dolan names Nystrom as CRO, gets continued listing notice from NYSE

By Caroline Salls

Pittsburgh, Jan. 2 - The Dolan Co. appointed Zolfo Cooper managing director Kevin Nystrom as its chief restructuring officer, according to a company news release.

Nystrom will report to the company's board of directors and will have oversight responsibility for Dolan's operations and finances.

As part of these responsibilities, the company said Nystrom will be actively engaged with its senior lenders, including Bayside Capital, which now holds participation interests covering a majority of the debt outstanding under Dolan's senior credit facility.

"Kevin will play a very important role in our efforts to stabilize our finances and strengthen our business," chairman, chief executive officer and president James P. Dolan said in the release.

In addition, the company said it received a continued listing standards notice from the New York Stock Exchange because the price of its common stock has fallen below the exchange's minimum share price rule.

The NYSE requires the average closing price of a listed security to be at least $1.00 per share over a consecutive 30 trading-day period, the release said.

The business information and professional services company is based in Minneapolis.

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