Resulting from the long-term positioning of the Chapter 11 process, with a significantly reduced balance sheet and improved liquidity
Appoints Steve Barlow as Chief Executive Officer
Lumileds Holding BV (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, has successfully completed its financial restructuring and emerged from Chapter 11 after reducing its funded debt by approximately $1.4 billion Has. Upon completion of the restructuring transaction, Lumileds will be owned by a new group of long-term institutional investors including Anchorage Capital Group, LLC, Nut Tree Capital Management, LP and Cerberus Capital Management, LP
Lumileds also announced that Steve Barlow, President of Lumileds Automotive Business Unit, has been appointed Chief Executive Officer and a member of the Board of Directors, succeeding Matt Roney. The appointment is effective November 11, 2022.
Mr. Barlow brings over 30 years of experience in the semiconductor and LED lighting industry and several decades with Lumileds, most recently as President of Lumileds’ Automotive Business Unit and before that as President of the Lighting Solutions Business Unit. He first joined the company in 2003 to help build its LED automotive, camera flash, display and lighting businesses as sales and marketing director. Previously, he held management and sales positions at Hewlett Packard, Cree, and Intematix Corporation. Mr. Barlow holds an MBA from Santa Clara University and a BS in Electrical Engineering from San Jose State University.
“We are pleased to have completed this process effectively and within the originally planned timeline, thanks to the support and dedication of our employees, customers, vendors, suppliers and our new owners,” said Matt Roney. “It has been a privilege to lead this extraordinary company and team, and I look forward to following the continued success of Lumileds under Steve’s leadership.”
“Lumileds has a strong position as an industry…
