Ron Miller Resigns as Aventine CEO; George Henning Approved as Interim CEO
PEKIN, Ill., Oct. 14, 2009 (GLOBE NEWSWIRE) -- Aventine Renewable Energy
Holdings, Inc. (Pink Sheets:AVRNQ), today announced that its President and Chief
Executive Officer, Ron Miller, has resigned to pursue new opportunities. His
resignation is effective October 23, 2009.
Bobby Latham, Aventine's Chairman of the Board, said, "Ron has been with
Aventine since its formation and was a central part of Aventine's birth and
growth. Ron's leadership will be missed, but the Company understands and
respects his decision to make a fresh start, just as the Company prepares for
its fresh start through the bankruptcy process. We wish him the very best. We
likewise pledge our full support to the management team in place."
Aventine's Board has appointed George T. Henning, Jr. as Interim Chief Executive
Officer and President of the Company, effective October 24, 2009. Mr. Henning
has served as our Interim Chief Financial Officer since March 2009 and will
retain that position.
The Board's decision to appoint Mr. Henning as Interim CEO is supported by the
Bankruptcy lenders under the Company's senior secured debtor-in-possession
financing facility and the holders of the majority of the Company's pre-petition
unsecured notes.
Mr. Henning is a retired financial executive with over 35 years of senior
financial management experience, including previous positions with Eastern Gas
and Fuel Associates, LTV Corporation and its predecessor companies, and Pioneer
Americas Company. Mr. Henning holds a MBA from Harvard University and a BA from
Pennsylvania State University. Mr. Henning serves as a member of the Board of
Trustees of the Pennsylvania State University.
Daniel R. Trunfio, Jr., current Chief Operating Officer, has agreed to stay on
in that position. Mr. Trunfio will be assuming additional responsibilities in
light of Mr. Miller's resignation.
About Aventine
Aventine is a producer and marketer of ethanol to many leading energy companies
in the United States. In addition to ethanol, Aventine also produces distillers
grains, corn gluten meal, corn gluten feed, corn germ and brewers' yeast. Our
internet address is www.aventinerei.com.
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CONTACT: Aventine Renewable Energy Holdings, Inc.
William J. Brennan, Chief Accounting & Compliance Officer
(309) 347-9200
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