VeraSun fires president in wake of bankruptcy filing

VeraSun
The VeraSun plant in Brookings, S.D. The company plans to build another ethanol plant in southern Minnesota.
MPR Photo/Mark Steil

(AP) - Ethanol producer VeraSun Energy -- which two weeks ago filed for Chapter 11 bankruptcy protection -- says it has terminated Danny C. Herron, the company's president and chief financial officer.

Bryan Meier, VeraSun's vice president of finance and chief accounting officer, is assuming the additional responsibilities of principal financial officer.

Danny Herron
VeraSun Chief Financial Officer Danny Herron says says the company decided to suspend construction of an ethanol plant in Indiana as a precautionary measure.
Image courtesy VeraSun

The information comes from a VeraSun filing with the Securities and Exchange Commission.

VeraSun earlier this week said it expects to report a third-quarter loss of about $464 million - more than four times the amount quoted in an earlier announcement that accelerated the company's fall into bankruptcy protection.

VeraSun, based in Sioux Falls, is the nation's second largest producer, with about 13 percent of the nation's ethanol capacity.

(Copyright 2008 by The Associated Press. All Rights Reserved.)