Plugin or script to apply updated media settings to all featured images

Question

I need to know if there exists a script or plugin that will add a button the "Settings > Media Settings" that will rebuild all thumbnails to match the current media size settings.

The problem this seeks to solve is when the site owner decides he/she would like different thumbnail and featured image sizes after having uploaded several at the wordpress default settings of 150px, 300px, 1200px

This solution would allow users to auto resize the images in one click to match the current settings.