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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20509
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) July 25, 2013
Tejon Ranch Co.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 1-7183 | 77-0196136 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| P. O. Box 1000, Lebec, California | 93243 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code 661 248-3000
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
The Company announced today that it has hired Gregory S. Bielli to be the Company’s new President and Chief Operating Officer. Mr. Bielli, who is 53, will replace the Company’s current CEO, Robert A. Stine, when Mr. Stine retires at the end of this year. At that time Mr. Bielli will become the President and CEO. Mr. Bielli will join the Company in September and at the next Board of Director’s meeting will be elected to be a director and officer of the Company.
Mr. Bielli has nearly 25 years of experience in real estate, land acquisitions, development and financing. He comes to Tejon from Newland Communities, one of the nation’s largest and most successful master plan community developers. Mr. Bielli was President of Newland’s Western Region and was responsible for overseeing management of all operational aspects of Newland’s portfolio of master planned commercial and retail real estate projects and communities in the region. Mr. Bielli has worked with Newland Communities since 2006.
Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits
Exhibits
| 99.1 | Press Release of the Company dated July 30, 2013, announcing that the Company hired Gregory S. Bielli to be the Company’s new President and CEO. | |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: July 30, 2013 | TEJON RANCH CO. | |||||
| By: | /S/ ALLEN E. LYDA | |||||
| Name: | Allen E. Lyda | |||||
| Title: | Executive Vice President, and Chief Financial Officer | |||||
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Exhibit 99.1
TEJON RANCH NAMES NEW PRESIDENT AND CEO
(Tejon Ranch, CA) Tejon Ranch Co. (NYSE: TRC) announced today that it has hired Gregory S. Bielli to be the Company’s new President and CEO. Bielli, who is 53, will replace the Company’s long standing CEO, Robert A. Stine when Stine retires at the end of this year. Bielli will join the Company in September and will be the President and Chief Operating Officer until Stine’s retirement.
Bielli has nearly 25 years experience in real estate, land acquisition, development and financing. He comes to Tejon Ranch most recently from Newland Communities, one of the nation’s largest and most successful master plan community developers. As President of Newland’s Western Region, Bielli was responsible for overseeing management of all operational aspects of Newland’s portfolio of master planned residential, commercial and retail real estate projects in the region. He was also responsible for growth and acquisitions in the region that includes the states of Arizona, California and Colorado.
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“We are very pleased Greg Bielli will be joining Tejon Ranch Company,” said Kent Snyder, Chairman of the Tejon Ranch Board of Directors. “We believe that with his skills, capabilities and experience, he is the ideal person to assume leadership of this great Company.”
“This is a tremendous opportunity for me and I’m grateful the Board is entrusting me with this important responsibility,” said Bielli. “Tejon Ranch has a remarkable legacy and Bob Stine’s 17 years at the helm has been a significant part of the story of Tejon Ranch. The Ranch has an equally exciting future and I’m happy to be chosen to lead the next chapter.”
Bielli earned a bachelor’s degree in Political Science from the University of Arizona in 1983. He and his wife Vicki will be relocating to Bakersfield, California.
Deb Barbanel, the Global Head of Real Estate for the executive search firm Russell Reynolds Associates, led the initiative on behalf of Tejon Ranch Company.
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About Tejon Ranch Company (NYSE: TRC)
Tejon Ranch Co. is a 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. For more information on the company, visit www.tejonranch.com