Deluxe Promotes CFO Eric Cummins To CEO As It Emerges From Chapter 11

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Deluxe has named Eric Cummins as its new CEO as the longtime Hollywood production and distribution services provider emerges from a Chapter 11 bankruptcy process.

Cummins will succeed current CEO John Wallace, who is retiring after nearly 35 years in the media and entertainment industry, the company said.

Along with the CEO appointment, the company said it has completed a “comprehensive” restructuring and emerged from bankruptcy. Deluxe said it has shed more than 75% of its debt and obtained $115 million in new financing.

Known for more than a century as a film post-production specialist, Deluxe now provides a range of services and tools designed for digital production and distribution.

Cummins joined Deluxe in 2018. Before that, he was CFO of Harland Financial Solutions. He spearheaded Harland’s growth and sale, first to D+H, a global payments and lending technology provider, and then to Vista Equity Partners, a software- and technology-focused private equity firm. He also spent nearly 15 years at Honeywell in executive management roles across finance, operations and general management.

“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,” Cummins said.

Gregg Bresner, a member of Deluxe’s board of directors, said Cummins has been a key element in the company’s effort to regroup.

“With an optimized 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,” Bresner said. “He has been instrumental in completing the comprehensive refinancing, and we are confident that he is the right person to lead the company forward.”

This article was printed from https://deadline.com/2019/11/deluxe-promotes-cfo-eric-cummins-to-ceo-as-it-emerges-from-chapter-11-1202779478/