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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.