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Thomson shareholders approve restructuring; company now Technicolor
By Caroline Salls
Pittsburgh, Jan. 27 - Thomson SA's shareholders have approved the company's restructuring plan and approved a request to change the name of the company to Technicolor, according to a news release.
The company will begin trading under the Technicolor symbol (TCH) on Monday.
"We are delighted that shareholders have given their full backing to our restructuring plan," chairman and chief executive officer Frederic Rose said in the release.
"This is a new start for our group under the Technicolor brand."
As previously reported, Thomson's restructuring plan was approved by its creditors in December.
The company's safeguard proceeding is expected to conclude in February.
The roles of chairman and chief executive officer, which had been combined in 2009, will be separated under a new governance structure.
Thomson is based in Boulogne-Billancourt, France, and provides video technologies, systems, finished products and services to the media and entertainment industry. It announced the safeguard proceeding on Nov. 30.
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