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Alico announces expected dissolution of largest shareholder 734 Investors » 08:2211/1311/13/19
Alico announced that 734…
Alico announced that 734 Investors, the Company's largest shareholder, has distributed the 3,173,405 shares of Company common stock held by it, on a pro rata basis, to its members. This share distribution comes in anticipation of the dissolution of 734 Investors later this year. Transfers of these shares are not registered on any current Alico registration statement, but the shares are potentially transferable pursuant to Rule 144, subject to certain customary restriction.
Alico announces John Kiernan to become CEO » 16:1104/1104/11/19
Alico's Hank Slack,…
Alico's Hank Slack, the company's Chairman, was pleased to announce several leadership appointments to take effect on July 1. John E. Kiernan, who has served as Alico's CFO for the last four years, will become CEO. Richard Rallo, who has served as Alico's Chief Accounting Officer for the last two years, will succeed Mr. Kiernan as CFO. Benjamin D. Fishman, who has been on the Board of Alico since 2014, and chair of its Audit Committee, will succeed Mr. Slack as Chairman. Mr. Slack will remain on the Board. Mr. Slack commented: "It is the right time for these important leadership transitions, and the Board and I are confident that they are made in the best interests of all of Alico shareholders. We have good reason to be pleased with what Alico has accomplished in recent years. Three significant acquisitions have now been fully integrated into the citrus industry leader which Alico is today. The Company is entering into a new phase wherein it is becoming increasingly well positioned to acquire new strategic businesses, expand its citrus operations, reduce debt or return capital to shareholders. I will be pleased to be succeeded as Chairman by my friend, Ben Fishman, whose agricultural expertise, financial acumen and respect for prudent corporate governance on the Alico board these past years have been a significant factor in our success." Ben Fishman is a Managing Director of Arlon Group, and acts as Managing Member of 734 Investors, LLC, Alico's largest shareholder. Arlon Group is a food and agriculture investment firm with a global network that supports investments across the entire food supply chain. Arlon was established by Continental Grain Company (CGC), a more than 200-year-old, family-owned global agribusiness.