UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20509
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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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. |
Tejon Ranch Co. has appointed Brett A. Brown, age 58, as Executive Vice President and Chief Financial Officer. Mr. Brown will join the Company on May 8, 2023, and will assume the position from current CFO Allen Lyda, who will continue his other responsibilities as Executive Vice President and Chief Operating Officer.
Mr. Brown was most recently Executive Vice President, Chief Financial Officer, and Treasurer at Alexander & Baldwin, Inc. (NYSE: ALEX), from May 2019 to November 2022.
Over the course of more than three decades, Mr. Brown has worked exclusively in the real estate industry, both with public and privately held companies, as well as Real Estate Investment Trusts.
In addition to Alexander & Baldwin, Mr. Brown worked for PREP Property Group from February 2018 to May 2019 and prior to PREP worked 13 years with IRC Retail Centers/Inland Real Estate Corporation (NYSE: IRC) in Oak Brook, Illinois, where he also served as Executive Vice President, Chief Financial Officer, and Treasurer.
Mr. Brown earned a Bachelor of Science, Accountancy, from Northern Illinois University. He is a member of the National Association of Real Estate Investment Trusts, International Council of Shopping Centers, and the American Institute of Certified Public Accountants.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
| 99.1 | Press Release of the Company dated May 5, 2023, announcing the Company’s appointment of a new Executive Vice President and Chief Financial Officer. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). | |
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SIGNATURES
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: May 5, 2023 | TEJON RANCH CO. | |||||
| By: | /S/ ALLEN E. LYDA | |||||
| Name: | Allen E. Lyda | |||||
| Title: | Executive Vice President, Chief Operating Officer/ Chief Financial Officer | |||||
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Exhibit 99.1
FOR IMMEDIATE RELEASE
May 5, 2023
TEJON RANCH CO. NAMES NEW CHIEF FINANCIAL OFFICER
VIA GLOBAL NEWSWIRE (Tejon Ranch, CA) — Tejon Ranch Co. (NYSE: TRC) announced today the appointment of Brett A. Brown as Executive Vice President and Chief Financial Officer. Brown was most recently Executive Vice President, Chief Financial Officer, and Treasurer at Alexander & Baldwin, Inc. (NYSE: ALEX), in Honolulu, HI. Brown will assume the position from current CFO Allen Lyda, who will continue his other responsibilities as Executive Vice President and Chief Operating Officer. Brown will report directly to Lyda in his new role.
“We are extremely pleased to have a person of the caliber and experience of Brett Brown join our executive management team,” said Gregory S. Bielli, President and CEO of Tejon Ranch Co. “This is an extremely important position and we’re confident, with Brett’s professional experience in this type of role, that he is the right person to manage the company’s capital funding activities, financial operations and reporting.”
Over the course of more than three decades, Brown has worked exclusively in the real estate industry, both with public and privately held companies, as well as Real Estate Investment Trusts.
In addition to Alexander & Baldwin, Brown worked for 13 years with IRC Retail Centers/Inland Real Estate Corporation (NYSE: IRC) in Oak Brook, Illinois, where he also served as Executive Vice President, Chief Financial Officer, and Treasurer.
Brown earned a Bachelor of Science, Accountancy, from Northern Illinois University. He is a member of the National Association of Real Estate Investment Trusts, International Council of Shopping Centers, and the American Institute of Certified Public Accountants.
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About Tejon Ranch Company (NYSE: TRC)
Tejon Ranch Company (NYSE: TRC) is a growth-oriented, 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 25 miles south of Bakersfield. Tejon Ranch is positioned for growth with its fully operational commercial/industrial real estate development and three master planned communities on the horizon.
More information about Tejon Ranch Co. can be found online at http://www.tejonranch.com.
| CONTACT: | Barry Zoeller, Senior Vice President |
Corporate Communications & Investor Relations
(661) 663-4212
bzoeller@tejonranch.com