Werner seeks court OK to hire James J. Loughlin as interim CEO and vice president, CRO

By Caroline Salls

Pittsburgh, Dec. 8 - Werner Holding Co. (DE), Inc. requested court approval to terminate the employment of Loughlin Meghji + Co. Associates, Inc. as restructuring consultants and to hire James J. Loughlin Jr. as interim chief executive officer and as vice president and chief restructuring officer, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

According to the motion, over the last few weeks, the company has faced several significant challenges that will, if not properly managed, adversely affect its ability to operate under Chapter 11 and maximize value for stakeholders.

Werner said CEO Steven Richman resigned on Nov. 20, and, over the past several months, other important members of management have resigned.

In addition, the company said it is continuing its complex operational restructuring and the preparation of its 2007 budget and long-term business plan.

A hearing is scheduled for Dec. 20.

Werner, a Greenville, Pa., manufacturer and distributor of ladders, climbing equipment and ladder accessories, filed for bankruptcy on June 12. Its Chapter 11 case number is 06-10578.

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