Interstate Bakeries appoints Philip A. Vachon to board of directors

By Caroline Salls

Pittsburgh, March 6 - Interstate Bakeries Corp. said Philip A. Vachon was appointed to its board of directors after the company's equity committee recommended Vachon to fill the vacancy left by the resignation of David N. Weinstein, according to a company news release.

Vachon presently serves as chief executive officer and chairman of the board of Liberate Technologies, which owned 2.25 million of Interstate's common shares as of Feb. 28.

Before Vachon's appointment to the board of directors, Liberate entered into a stock trading plan that provides for the sale of Interstate common stock during the period from September 2007 through January 2008, according to the release.

In addition, Interstate announced changes in the composition of its board committees.

Terry R. Peets, David I. Pauker and Vachon were appointed to the nominating committee and corporate governance committee; Robert B. Calhoun, Michael J. Anderson and William P. Mistretta were appointed to the audit committee; and Pauker, Calhoun and Peets were appointed to the compensation committee.

The Kansas City, Mo., bakery operator filed for bankruptcy on Sept. 22, 2004 in the U.S. Bankruptcy Court for the Western District of Missouri. Its Chapter 11 case number is 04-45814.

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