Alexander & Baldwin, Inc. (NASDAQ:ALEX) Chairman and CEO Allen Doane
today announced a series of management changes that will provide added
leadership focus and strength to the Company. The changes are effective
October 1, 2008.
-
Stanley M. Kuriyama will be named president, Alexander &
Baldwin, Inc. Kuriyama, most recently president and chief executive
officer of the A&B Land Group, will assume day-to-day operational
responsibility for both Matson Navigation Company and the A&B Land
Group, and will report to Doane.
-
James S. Andrasick will be appointed chairman, Matson
Navigation Company, and will continue to have responsibility for
Matson Integrated Logistics and Matson’s
legal and environmental departments. He also will continue to report
to Doane.
-
Matthew J. Cox will be named president, Matson Navigation
Company, and will assume responsibility for all Matson functions
except those reporting to Andrasick. Cox had been executive vice
president and chief operating officer of Matson, and will be reporting
to Kuriyama.
-
Robert K. Sasaki will be appointed vice chairman of A&B
Properties, a position formerly held by Kuriyama.
-
Norbert M. Buelsing will be named president, A&B Properties,
with responsibility for all aspects of the real estate subsidiary’s
operations. Buelsing had been executive vice-president of A&B
Properties, responsible for the company’s
commercial portfolio. He will report to Kuriyama.
"I am very pleased to announce these senior
management changes, which are intended not only to recognize the
important contributions of all of these individuals but also to enhance
Alexander & Baldwin’s management
capability,” said Doane. "Both
Matson and A&B Properties have achieved stellar records of success under
the leadership of these individuals, and I am grateful for the board’s
full support of these planned changes. We are all confident that with
the team we have in place under this new structure, we are
best-positioned to chart the right course for the Company.”
Additional information follows:
Stanley M. Kuriyama joined the company in 1992, as a vice
president of A&B-Hawaii, Inc., (ABHI) which then was A&B’s
property management and development, and food products subsidiary. 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. Prior to joining
A&B, he was a partner with the law firm of Cades Schutte Fleming &
Wright, specializing in real estate and real estate financing. Kuriyama
earned his law degree from Harvard Law School.
James S. Andrasick joined Alexander & Baldwin, Inc. in 2000 as
senior vice president, chief financial officer and treasurer of the
company. In 2002, he was appointed president and CEO of A&B’s
ocean transportation subsidiary, Matson Navigation Company, while
remaining A&B CFO until mid-2003. Prior to joining A&B, Andrasick was
president and chief operating officer of C. Brewer and Company, Limited.
Andrasick is a graduate of the U.S. Coast Guard Academy, and holds a
masters degree in management science from the Massachusetts Institute of
Technology.
Matthew J. Cox joined Matson in June 2001 as senior vice
president and chief financial officer and has served as executive vice
president and chief operating officer since 2005. He brought to Matson
15 years of experience in the transportation industry, 12 of which were
spent at American President Lines, Ltd. (APL). Cox earned a bachelor’s
degree in accounting and finance from the University of California,
Berkeley and is a certified public accountant.
Robert K. Sasaki joined A&B in 1965 as a management trainee and,
two years later, was assigned to the land division as an analyst. After
several interim promotions, he was named a vice president of A&B in
1974, then promoted to senior vice president in 1986. Sasaki has been
president of A&B Properties, Inc. since 1989 and, since then, has held
executive level positions with numerous A&B subsidiaries, as well as the
parent company. Sasaki holds a master’s
degree in business administration from the University of California,
Berkeley.
Norbert M. Buelsing joined A&B-Hawaii, Inc., which then was A&B’s
property management and development, and food products subsidiary, in
1990 as vice president and was promoted to senior vice president a year
later. In 1997, he was named executive vice president of A&B Properties,
Inc. He previously was executive vice president and chief operating
officer for Chaney Brooks & Company, a Hawaii real estate firm, where he
enjoyed a nine-year career. Buelsing earned his bachelor's degree from
the University of Cincinnati, holds numerous professional licenses and
certifications, and serves as the Company's principal broker.
Alexander & Baldwin, Inc., headquartered in Honolulu, Hawaii, is engaged
in ocean transportation and logistics services through its subsidiaries,
Matson Navigation Company, Inc. and Matson Integrated Logistics, Inc.;
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.
Factors that could cause actual results to differ
materially from those contemplated in the statements include, without
limitation, overall economic conditions, failure to satisfy the closing
conditions set forth in the definitive agreement and other risks
associated generally with acquisitions and developments.
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.
NOTE TO EDITOR: For digital images, email lhowe@abinc.com
or jtabata@abinc.com
