Tejon Ranch President and CEO Announces Retirement Date
March 20 2024 - 4:15PM
Tejon Ranch Co. (TRC-NYSE). Today, Mr. Gregory Bielli, President,
and Chief Executive Officer (CEO) of Tejon Ranch Co., announced his
intent to retire on December 31, 2024. Mr. Bielli has been
President and CEO of Tejon Ranch Co. for over 10 years, since 2013.
Mr. Bielli joined the company to create an integrated real estate
company that now includes planning, entitlements, construction,
sales and leasing of all classes of real estate assets and growing
its non-real estate platform. Mr. Bielli has successfully
accomplished these goals for the company during his tenure.
Since Mr. Bielli joined the company, the company
has obtained new legislative land use entitlements and amendments
to prior approved entitlements on the existing four mixed use
master plans on Tejon Ranch. He and his team have overseen sales,
development and reacquisition of over 5.5 million square feet of
industrial and commercial uses in the Tejon Ranch Commerce Center.
In this regard, successes include the construction and opening of
The Outlets at Tejon, reinstitution and expansion of the Foreign
Trade Zone for the Tejon Ranch Commerce Center, and the recent
groundbreaking of the first residential project of Terra Vista at
Tejon. Under his leadership, the company expanded water resources
and farming operations. Mr. Bielli has also overseen the company’s
prior rights offering and recent refinancings, while keeping a
focus on a strong balance sheet for the company’s financial
health.
“Serving for the past 10 years as President and
CEO of this amazing company has been a true honor and privilege”
stated Mr. Bielli. “I feel very fortunate that we, as a team, have
been able to accomplish so much for our shareholders and this
one-of-a-kind historic ranch. The foundation that we have all been
part of establishing these last 10 years will serve this company,
its shareholders and the communities we enjoy being a part of for
many years to come.”
As a part of his retirement announcement, and
with support of the Tejon Ranch Co. Board of Directors, Mr. Bielli
will retain his Board of Directors seat after his retirement date.
Mr. Bielli will also serve as a senior advisor to the company
through 2025, to provide a clear transition for the new
President/CEO and the company into the future.
“I cannot say enough of the high quality and
professional nature with which Mr. Bielli has overseen and has led
the Tejon Ranch Company over the past 10 years. His leadership
within the company, and externally in his civic involvement
throughout the state of California has advanced our company’s
interests, and well served our shareholders and the communities of
which the company is a part. We are fortunate that his involvement
with the company will continue, and further our mission and
implementation for our shareholders,” stated Mr. Norm Metcalfe,
Chairman of the Board of Directors of Tejon Ranch Company.
The company has retained Korn Ferry to work with
a Board of Directors’ appointed ad hoc search committee to commence
a national search for Mr. Bielli’s successor. The ad hoc search
committee is comprised of the following Board of Director Members:
Norm Metcalfe (Chair of the Board of Directors), Michael Winer
(Chair of the Nominating & Corporate Governance Committee),
Steve Betts (Chair of the Compensation Committee) and Gregory
Bielli.
About Tejon Ranch Co.Tejon
Ranch Co. (NYSE: TRC) is a growth-oriented, fully diversified real
estate development and agribusiness company whose principal asset
is its 270,000-acre land holding located approximately 60 miles
north of Los Angeles and 30 miles south of Bakersfield. Tejon Ranch
Co. is positioned for growth with its fully operational
commercial/industrial real estate development and three
master-planned residential communities on the horizon. For more
information on the company, please go to www.tejonranch.com.
RPM Public RelationsRae Pardini
Matson559.205.0721rae@rpm-pr.comRPM-PR.com
Tejon Ranch (NYSE:TRC)
Historical Stock Chart
From Jul 2024 to Aug 2024
Tejon Ranch (NYSE:TRC)
Historical Stock Chart
From Aug 2023 to Aug 2024