FORT VALLEY, Ga. — Jeffry Bust, president and CEO of Blue Bird Corp., resigned his post on Sept. 26, about a week after the company was acquired by an affiliate of Cerberus Capital Management, an investment firm headquartered in New York City.
Bust, a graduate of the U.S. Naval Academy, joined Blue Bird in 2003, previously serving as the CEO of Grove Worldwide, a crane manufacturer. He steered the company through troubled times, including a Chapter 11 bankruptcy filing earlier this year. His resignation follows the retirement of Kim Cassell, vice president of sales for the school bus division.
Over the past year or so, Blue Bird has been able to beef up its lagging market share. Bust attributed the surge of orders to improvements in production quality at its manufacturing plants.
At press time, a replacement had not been announced.