The FESCO Transportation Group (the “Group”) announces today that Steven Hellman has been appointed as Chief Restructuring Officer (the “CRO”) of the Group effective July 6, 2016. Mr. Hellman will lead the Group's debt restructuring process and will act on behalf of the management of the Group with respect to all matters related to the Group's restructuring initiatives.
The Group believes that Mr. Hellman’s experience and knowledge will enable the Group to achieve a consensual restructuring of the Group’s debt portfolio in the interest of all its stakeholders. Mr. Hellman's appointment will allow the core management team to focus on operating the business and improving financial performance.
Mr. Hellman spent the last 12 years at Credit Suisse Group AG where he held various leadership positions, most recently Chief Executive Officer of Russia & CIS. Mr. Hellman brings a high level of expertise and experience in corporate finance, financial restructuring and law to the role of the Group CRO.
Mr. Hellman graduated from the University of California, Berkeley, with a B.A. in Soviet Studies (1986) and from the University of California, Berkeley, Boalt Hall School of Law (1989). Mr. Hellman is a fluent Russian speaker, he has worked in Russia for much of his career.