The Weinstein Co. has appointed Ivona Smith, an executive with experience in corporate restructuring and working with distressed assets, as an independent director.

The Board made the decision to add an additional independent director as part of its ongoing discussions with the Unsecured Creditors Committee in the company’s chapter 11 bankruptcy proceedings.

“We are delighted to welcome Ms. Smith to our Board,” said Chairman Robert Weinstein. “Ms. Smith brings not only substantial expertise in the bankruptcy sale process, but also enhanced transparency toward Board’s goal of maximizing value for the benefit of all stakeholders.”

Smith is a finance professional with more than 20 years of experience in distressed debt and and special situations. She joins a board that is comprised of four other directors with substantial industry experience.

In November, the Company also appointed a chief restructuring officer, Robert Del Genio, who is a senior managing director at FTI Consulting with more than 30 years corporate finance and restructuring.