Deluxe is emerging with a much stronger balance sheet – it has shed more than 75% of its debt and obtained $115m in new financing.
Deluxe has appointed Eric Cummins as CEO. Effective immediately, Cummins will succeed Deluxe’s current CEO, John Wallace, who is retiring after nearly 35 years in the media and entertainment industry. Cummins’s appointment expands his current role as Chief Financial Officer of Deluxe. He brings more than 20 years of strong leadership and operational experience to the role.
Additionally, the company has officially completed its comprehensive restructuring and successfully emerged from Chapter 11. Deluxe is emerging with a much stronger balance sheet – it has shed more than 75% of its debt and obtained $115m in new financing.
Cummins said: “I couldn’t be more excited to take on this role, and I look forward to carrying on Deluxe’s reputation of delivering for clients as we continue to build a technology platform that enables media and entertainment companies to create and deliver content globally.”
Gregg Bresner, member of Deluxe’s Board of Directors added: “With an optimised balance sheet and significantly less debt, Deluxe is well-positioned to carry on its unparalleled legacy, and we are pleased to appoint Eric as CEO. He has been instrumental in completing the comprehensive refinancing, and we are confident that he is the right person to lead the company forward.”