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Posted 30 June, 2023

Alexander & Baldwin, Inc. appointed new CEO

CEO Change detected for ticker NYSE:ALEX in a 8-K filed on 30 June, 2023.


  On June 27, 2023, the Company received notification from Christopher J. Benjamin, a member of the Company's Board of Directors, that he was resigning from the Board of Directors, effective as of June 30, 2023. Mr. Benjamin's resignation is consistent with the previously-announced planned transition of the CEO position on July 1, 2023 and is not due to any disagreement with the Company, its Board of Directors, or its management on any matter relating to the Company's operations, policies, or practices.  

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Overview of Alexander & Baldwin, Inc.
Real Estate/Construction • Retail REITs
Alexander & Baldwin, Inc. engages in real estate business. It operates through the following segments: Commercial Real Estate, Land Operations, and Materials and Construction. The Commercial Real Estate segment includes investments and acquisitions, construction and development, in-house leasing and property management, and asset management. The Land Operations segment consists of legacy assets and landholdings that are subject to the company's simplification and monetization effort. The Materials and Construction segment deals with asphalt paving contractor and natural materials and infrastructure construction services. The company was founded by Samuel Thomas Alexander and Henry Perrine Baldwin on 1870 and is headquartered in Honolulu, HI.
Market Cap
$1.21B
View Company Details
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 27, 2023, Alexander & Baldwin, Inc. (the "Company") received notification from Michele K. Saito, a member of the Company's Board of Directors, that she was resigning from the Board of Directors, effective as of that date. Ms. Saito's resignation is not due to any disagreement with the Company, its Board of Directors, or its management on any matter relating to the Company's operations, policies, or practices.


On June 28, 2023, the Board of Directors of the Company elected Shelee Kimura as a member of the Board of Directors, effective as July 1, 2023. 


Ms. Kimura has served as the President and Chief Executive Officer of Hawaiian Electric Company, Inc., a subsidiary of Hawaiian Electric Industries, Inc. (NYSE: HE) since January 2022. Previously, she served as Senior Vice President of Customer Service and Public Affairs and earlier as Senior Vice President of Business Development and Strategic Planning at Hawaiian Electric Company, Inc. Ms. Kimura has been named to the Compensation Committee of the Company's Board of Directors. Ms. Kimura will receive an equity award of 4,410 restricted stock units, which represents a prorated amount of the restricted stock unit award made to non-employee Board members at the 2023 annual meeting of shareholders, which covers the period from the appointment of Ms. Kimura to the date of the 2024 annual meeting of shareholders. The award will vest, and the underlying shares will be issued, upon her completion of one year of continued Board service measured from the appointment date of Ms. Kimura. Ms. Kimura will receive other compensation as a non-employee Board member as described in our proxy statement for the Company's 2023 annual meeting.


On June 27, 2023, the Company received notification from Christopher J. Benjamin, a member of the Company's Board of Directors, that he was resigning from the Board of Directors, effective as of June 30, 2023. Mr. Benjamin's resignation is consistent with the previously-announced planned transition of the CEO position on July 1, 2023 and is not due to any disagreement with the Company, its Board of Directors, or its management on any matter relating to the Company's operations, policies, or practices.


On June 28, 2023, the Board of Directors of the Company elected Lance K. Parker as a member of the Board of Directors, effective as July 1, 2023. Mr. Parker is currently the President and Chief Operating Officer of the Company and, as previously announced, will serve as President and Chief Executive Officer of the Company, effective as of July 1, 2023.


A copy of the press release announcing these changes in the Company's Board of Directors is furnished hereto as Exhibit 99.1.