Inc. Announces Management Reorganization
Focuses On Growth Opportunities
FL, November 8, 2006 -- Alico, Inc. (NASDAQ:ALCO), a land management company,
announced that its Board of Directors approved a reorganization of the company’s
senior management team.
reorganization will create a strategically aligned management structure for
agricultural, non-agricultural and real estate operations of the company. The
reorganization aligns the Company’s structure with its proactive vision of
managing its land assets in order to grow its earnings and provide a superior
return to its shareholders.
following changes in the organization are effective November 1,
Murphy was named as Senior Vice-President and CFO. Mr. Murphy and Dan L. Gunter,
President and COO, will continue to report directly to John Alexander, Chairman
to Dan L. Gunter, President and COO, are the following positions:
Smith was named as Senior Vice-President of Agricultural Operations.
Bogart was named as Senior-Vice President of Non-Agricultural Operations.
Talaga was named as Senior Vice-President, Human Resources and Information
Rosen was named as Senior Vice-President of Real Estate.
Smith, Bogart, Talaga and Rosen will report directly to Mr. Gunter.
John Alexander said, “As
we move forward we continually strive to align our organization to meet the
demands of our business. We believe this reorganization of senior
management reflects our commitment to manage our core operations effectively
will help us capitalize on new opportunities as we aggressively grow our
Inc., a land management company operating in Central and Southwest Florida,
approximately 137,000 acres of land located in Collier, Glades, Hendry, Lee
Polk counties. Alico is involved in various operations and activities including
citrus fruit production, harvesting and marketing, vegetable production, cattle
ranching, sugarcane, sod production, rock mining, vegetable seedling greenhouse
operations and forestry. Alico also leases land for farming, cattle grazing,
recreation and oil exploration. Alico intends to grow its asset values and
earnings through enhancements to its agricultural businesses and proactive
management of its real estate holdings.
Further Information Contact:
in this press release that are not statements of historical or current fact
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown factors that
could cause the actual results of the Company to be materially different from
the historical results or from any future results expressed or implied by such
forward-looking statements. The forward-looking statements contained herein
also subject generally to other risks and uncertainties that are described
time to time in the Company's reports and registration statements filed with
Securities and Exchange Commission.