It appears bankrupt Gibson is searching for a new chief executive.
A executive search site is posting an ad inviting C-level applicants to participate in the search for a CEO of a Nashville-area musical instrument company. The new executive should have “music industry” experience as well as know-how in navigating a successful “private equity” exit, the posting states.
The company is identified in the ad as a “top manufacturer and marketer of popular musical instruments and accessories” with an estimated $2 billion in 2017 revenue.
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The new CEO/president will be adept in running a “major consumer products company,” and he or she should have experience in pushing a “recognized brand” in digital and social media realms.
The bankrupt manufacturer of Gibson guitars has kept its current CEO, Henry Juszkiewicz, on in an advisory role as the Nashville-based company navigates Chapter 11, with the help of lenders and advisors. And Juszkiewicz has said he expects to remain in that role for perhaps a year or two.
Gibson, of course, makes electric and acoustic guitars, including a hall-of-fame array of historic models, including the Les Paul, the 335, the SG and many others.
Gibson filed for Chapter 11 protection from creditors in May, saying it was shouldering anywhere from $100 million to $500 million in debt.
Juszkiewicz bought Gibson in 1986 with a group of investors and moved the company from Michigan to Nashville, Tenn.