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CEDC > SEC Filings for CEDC > Form 8-K on 11-Dec-2012All Recent SEC Filings




Change in Directors or Principal Officers, Other Events

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On December 10, 2012, Marek Forysiak, a member of the board of directors (the "Board") of Central European Distribution Corporation (the "Company") notified the Board of his resignation from the Board effective immediately. Mr. Forysiak, who has served as an independent director of the Company since April 2009, was a member of the Board's Audit Committee. The Company expects Mr. Sieger to be appointed to the Audit Committee following Mr. Forysiak's departure.

Item 8.01. Other Events.

On December 10, 2012, the Company engaged Alvarez & Marsal North America, LLC, Alvarez & Marsal CIS LLP and Alvarez & Marsal Poland Sp. z o.o. (collectively "Alvarez & Marsal") as its restructuring advisor. Alvarez & Marsal was selected by the Board with the unanimous approval of the special committee of Company directors. The Company also appointed Maxim Frangulov, Managing Director of Alvarez & Marsal and co-head of Alvarez & Marsal's restructuring practice in Russia, as the Company's Chief Restructuring Officer. Mr. Frangulov and his team will serve as independent contractors to the Company and will report to the Board.

Mr. Frangulov has more than 15 years of experience in corporate restructuring advisory services. As Chief Restructuring Officer, he will advise the Company on improving its liquidity management and operational efficiency.

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