Stanley M. Kuriyama Appointed Chief Executive Officer of Alexander & Baldwin; W. Allen Doane to Retire after 11 Years as CEO
2009年10月23日 - 5:00AM
ビジネスワイヤ(英語)
The Alexander & Baldwin, Inc. (NYSE:ALEX) (“A&B”) Board
of Directors has appointed A&B President Stanley M. Kuriyama to
the position of chief executive officer, effective January 1, 2010,
succeeding Chairman and Chief Executive Officer W. Allen Doane, who
will retire at year’s end after 11 years as CEO. Kuriyama also has
been named to serve on the A&B board of directors, effective
January 1, 2010. Doane will continue to serve A&B as a
director, and current Lead Independent Director Walter A. Dods, Jr.
will become chairman of the A&B board, also effective January
1, 2010.
W. Allen Doane, 61, has been A&B’s chief executive
officer since October 1998. Doane joined A&B in 1991 as
executive vice president and chief operating officer of
A&B-Hawaii (“ABHI”), then A&B’s real estate and food
products subsidiary.
During Doane’s tenure as CEO, the company greatly expanded its
business scope and profitability. A principal element of this was
the strategically directed growth in real estate, where income in
2008 was more than three times that of a decade earlier. A&B
has become a leading real estate company in Hawaii, with major
active developments and commercial properties statewide. In
transportation, A&B’s shipping subsidiary, Matson Navigation,
has nearly doubled its income in the last ten years by expanding
both west and east from Hawaii. Most significant has been Matson’s
entry into the China market, where it calls on three China ports
and is the only U.S. shipping company with service from China to
the U.S. In addition, Matson has grown its logistics presence on
the U.S. mainland, where it is now the ninth largest logistics
provider in the country. The success of these initiatives has been
reflected in A&B’s earnings, which have increased from $25
million in 1998 to over $130 million in 2008.
Walter Dods, who has been a member of A&B’s board of
directors since 1989, recognized Doane’s leadership at A&B.
“Having had the privilege of working with Allen since 1998, I want
to extend on behalf of the entire board our deepest gratitude and
appreciation to him. Allen’s leadership has been inclusive, and
highly strategic and insightful. He has been the architect of
A&B's strategy for accelerated growth, and his successes have
left the corporation in a significantly improved operating and
financial condition, and with much strengthened tangible assets and
human resources,” said Dods. “We also are grateful that A&B
will continue to benefit from Allen’s counsel as a valued member of
the board.”
Doane said, “In 2007, I informed the Board of my plan to retire
at the end of this year. Having served as CEO since 1998, the
timing was right to implement the succession plan approved by the
A&B Board. I am very pleased that Stan Kuriyama will now become
the company’s CEO. A&B is truly fortunate to have an individual
of Stan’s proven capability and experience take on these leadership
responsibilities, and I am confident that the company’s best days
are ahead.”
Stanley M. Kuriyama, 56, was promoted to president of
A&B in October 2008, and has since been responsible for the
operations of both Matson Navigation Company and the A&B Land
Group, which includes A&B Properties and A&B’s agricultural
and trucking operations. He joined the company in January 1992, as
a vice president of ABHI. He was named a vice president of A&B
and executive vice president of ABHI in 1999, and was named vice
chairman and chief executive officer of A&B Properties, Inc. in
2000, before assuming the role of president and chief executive
officer of A&B Land Group in 2005. He was named chairman of the
board of Matson in August 2009. His leadership has been the
principal element in A&B’s highly successful growth in real
estate. Prior to joining A&B, he was a partner with the law
firm of Cades Schutte Fleming & Wright, and earned his law
degree from Harvard Law School.
Dods said, “On behalf of the board of directors, we are pleased
to express our confidence in Stan Kuriyama through this promotion
to become A&B’s new chief executive officer. On a personal
level, it is thrilling for me to have one of Hawaii’s own – a local
boy – assume these responsibilities. He is accomplished,
approachable and has a strong commitment to Hawaii. I know he will
be an exceptional leader and that Alexander & Baldwin will
continue to serve Hawaii with integrity through its business
activities on both land and sea.”
Kuriyama said, “I am honored by the confidence Allen and the
board have placed in me. Alexander & Baldwin has a long and
successful history in Hawaii, and an enduring commitment to the
people, communities and markets we serve. Allen has done an
extraordinary job of guiding and growing this company, and has laid
a strong foundation for the future. While today’s economic
environment is obviously challenging, I am optimistic about our
prospects. We have strong operating companies and quality assets,
we are committed to finding new ways and places to grow our
business, and most of all, we are blessed with extraordinarily
capable and dedicated employees throughout the organization.”
Walter A. Dods, Jr., 68, has served as lead independent
director of A&B since 2006 and as a director of A&B since
1989. He has more than three decades of international and corporate
experience at the highest levels of executive leadership for First
Hawaiian Bank and BancWest Corporation, and also currently serves
as Non-Executive Chairman of the Board of Hawaiian Telcom
Communications, Inc., as well as a member of numerous other profit
and non-profit boards.
About Alexander &
Baldwin: A&B is headquartered in Honolulu, Hawaii and is
engaged in ocean transportation and logistics services through its
subsidiaries, Matson Navigation Company, Inc., Matson Integrated
Logistics, Inc. and Matson Global Distribution Services; in real
estate through A&B Properties, Inc.; and in agribusiness
through Hawaiian Commercial & Sugar Company and Kauai Coffee
Company, Inc. Additional information about A&B may be found at
its web site: www.alexanderbaldwin.com.
Statements in this press release that are not historical facts
are “forward-looking statements,” within the meaning of the Private
Securities Litigation Reform Act of 1995, that involve a number of
risks and uncertainties that could cause actual results to differ
materially from those contemplated by the relevant forward-looking
statement. These forward-looking statements are not guarantees of
future performance. This release should be read in conjunction with
our Annual Report on Form 10-K and our other filings with the SEC
through the date of this release, which identify important factors
that could affect the forward-looking statements in this
release.
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