Mr. Gregory F. Rayburn

Gregory F. Rayburn, CFA, CPA is a managing partner with Kobi Partners, LLC in Kiawah Island, S.C., and is senior executive with more than 28 years of experience creating and maximizing value for stake- holders of companies facing cultural, strategic and competitive challenges. He provides high-impact leadership and implementation of change under adverse circumstances. Mr. Rayburn has experience in a wide range of industries, including consumer products, manufacturing, freight, telecommunications, retail, gaming, thoroughbred horse racing, hospitality, home building, pharmaceutical, health care and outsourced services. He has served in a number of challenging CEO, COO and CRO positions and is currently serving as the chairman and CEO of Hostess Brands, maker of iconic brands such as Wonder Bread, Drakes Cakes and Twinkies. He served as a member of the board of directors of the Great Atlan- tic & Pacific Tea Co. until their successful emergence from bankruptcy. He also served at the request of the Governor of New York as the CEO of the New York City Off Track Betting Corporation. In addition, Mr. Rayburn served as the CEO of Magna Entertainment Corp., completing the successful restructuring of North America's largest owner of thoroughbred horse tracks and casinos (including Gulfstream Park, Santa Anita and Pimlico). He served as CEO of Syntax-Brillian Corp., the maker of Olevia LCD televi- sions and Vivitar cameras, and as CEO of International Outsourcing Services, the largest U.S. coupon processing company with data outsourcing services across Europe. Mr. Rayburn served as CEO of Mu- zak Holdings LLC, the largest provider of audio architecture and branding services in the world. He also served as COO and CRO of aaiPharma, a specialty pharmaceutical company specializing in drug devel- opment and the marketing and sales of branded and generic drug lines. Prior to aaiPharma, Mr. Rayburn was the CRO of WorldCom, then the largest U.S. bankruptcy filing in history. Prior to WorldCom, Mr. Rayburn served as CEO of Sunterra Corp., then the largest resort development and timeshare interest company with 89 resorts in 8 countries. He has also served as a senior advisor to boards of directors and management teams. Mr. Rayburn is qualified as an expert witness in federal and state courts on issues such as business viability, strategic plan assessment, fraud, damages and bankruptcy reorganizations. He is a member of the American Institute of Certified Public Accountants. Mr. Rayburn received his B.S. in business and marketing and his M.A. in accounting from the University of Alabama.