Leonard LoBiondo joins Talen Energy Supply as Executive Vice President of Restructuring
HOUSTON, May 16, 2022 /PRNewswire/ — Talen Energy Supply (“TES” or the “Company”) today announced that it has appointed Leonard LoBiondo to the role of Executive Vice President of Restructuring. Mr. LoBiondo brings over 30 years of restructuring experience to TES and will report directly to the company’s CEO. Alex Hernandez. LoBiondo will also work closely with the Restructuring Committee of the TES Board of Directors, the Chief Financial Officer, General Counsel and Company Advisors to drive the company’s restructuring actions to maximize value, while directing stakeholder management activities.
“Our business is at a significant inflection point as we move from operational turnaround to strategic repositioning for long-term value creation. This transformation must also be accompanied by balance sheet and capital turnaround. to ensure the long-term success of the company Talen – the Cumulus platform and our people,” said Alex Hernandez, CEO, President and Director of TES. “Len’s leadership and expertise in building effective and value-creating solutions for businesses, as well as his experience in stakeholder relations for a variety of industries will help us successfully complete our restructuring activities. I’m thrilled to welcome Len to the team,” Hernandez continued.
For over 30 years, LoBiondo has provided professional services to large corporations and mid-market businesses. He has advised a wide variety of stakeholders including examiners, secured/unsecured creditors, debtors and management teams of companies undergoing restructuring. He has held various interim management positions and has served on numerous boards, including Director of Restructuring at NRG Energy, where he also served on its board. Other notable assignments include Allegheny Health, Education and Research Foundation, Allegheny International, Solutia, Sunbeam, Trans World Entertainment, Maxime CraneAnd you.
Prior to his current role, Mr. LoBiondo served as Senior Managing Director and Co-Chief Operating Officer of Kroll Zolfo Cooper, providing strategic advice on restructuring. before joining Kroll Zolfo Cooperhe worked at Arthur Andersen and Deloitte, Haskins & Sells (now Deloitte).
LoBiondo is a graduate and former administrator of Villanova University, Villanova, Pa., where he earned a BS in Accounting. He is a former Certified Public Accountant (CPA) and Certified Insolvency and Restructuring Counselor (CIRA), and a member of the American Institute of Certified Public Accountants, the New Jersey Society of CPAs, and the Association of Insolvency and Restructuring. Advisors.
About Talen Energy Supply
TES is one of the largest competitive power generation and infrastructure companies in North America. TES owns and/or controls approximately 13,000 megawatts of generating capacity in wholesale electricity markets in the United States, primarily in the Mid-Atlantic, Texas and Montana.
Through its subsidiary, Cumulus Growth, TES’ parent company, Talen Energy Corporation, is developing a large-scale portfolio of renewable energy, battery storage and digital infrastructure assets across its vast footprint. For more information, visit https://www.talenenergy.com/esg-focused-future/
On May 9, 2022TES and certain of its affiliates have filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of Texas. The cases are pending before the Honorable Marvin Isgur and are being jointly administered under Case No. 22-90054. Talen Energy Corporation, Cumulus Growth subsidiaries, LMBE-MC Holdco II LLC and its subsidiaries, and Talen Receivables Funding (TRF) are not part of the record. For more information, visit https://www.talenenergy.com/maximizing-value-for-our-stakeholders/.
Taryne Williamsdirector of corporate communications
SOURCE Talen Energy Corp.