Chattanooga-based Propex Inc. named an interim president Monday after its longtime president and chief executive office, Joseph F. Dana, announced his retirement from the company.
The new president, Woody McGee, a former executive consultant with Cerberus Capitol Management, has experience helping companies emerge from Chapter 11 bankruptcy, a statement said.
Before going to work at a private investment firm, Cerberus Capitol Management, Mr. McGee was employed with Litton Industries Inc. and Telxon Corp.
Propex, a producer of geosynthetic materials that has 173 employees in the area and 3,000 worldwide, filed for Chapter 11 bankruptcy reorganization in January.
“I am truly excited to be joining Propex at this challenging time,” said Mr. McGee. “My focus will be to work with the entire Propex team to best position the company to grow and prosper in the current marketplace while getting ready to capitalize on our future beyond Chapter 11.”
