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Published on 4/6/2006 in the Prospect News Distressed Debt Daily.

Oneida promotes James E. Joseph to president, begins CEO search process

By Caroline Salls

Pittsburgh, April 6 - Oneida Ltd. promoted James E. Joseph to president, effective May 31, to replace president and chief executive officer Terry G. Westbrook, according to a company news release.

Joseph has been the company's executive vice president for worldwide sales and marketing since April 2005. Previously, he was the general manager for Oneida's foodservice and international operations.

The company has begun the process to appoint a new CEO, which is expected to be completed by May 31.

Westbrook has been a member of Oneida's board since October 2004, and was asked to serve as president and CEO in March 2005 as part of the company's restructuring efforts.

He will continue as a member of the board pending confirmation of the company's plan of reorganization.

The company has hired Heidrick & Struggles to conduct a CEO search.

Oneida, an Oneida, N.Y.-based maker of flatware, dinnerware, crystal and metal serving pieces filed for bankruptcy on March 19. Its Chapter 11 case number is 06-10489.


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