CFO Out At Xerium Technologies
David G. Maffucci will be leaving his post as executive vice president and CFO of Xerium Technologies, a North Carolina-based company with an office in Westborough, at the end of August.
The planned exit of Maffucci was made public through a filing with the Securities and Exchange Commission.
Maffucci joined Xerium as a director in 2008 and became an executive with the company in 2009. He helped lead the company through an intense debt restructuring process, which included a two-month long bankruptcy proceeding. Through the voluntary bankruptcy the company was able to restructure $620 million worth of debt.
The company reported a nearly $112 million loss in 2009.
Xerium is a global manufacturer of industrial textiles and rolls used primarily in the paper production process. It has 32 manufacturing facilities in 13 countries around the world and 3,300 employees.
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