Announces Resignation of Director and Election of Directors
La Belle, FL., February 22,
2010 -- Alico, Inc. (NASDAQ: ALCO), a land management company, announced
on Friday, February 19, 2010, before the Company’s annual shareholder’s
meeting, that Evelyn D’An notified the Company that she was resigning
as the Chair of the Audit Committee and as a director of Alico, Inc.'s Board of
Directors effective Thursday, February 18, 2010. Ms. D’An indicated
that she has no disputes regarding the Company’s operations, policies or
practices. At the annual meeting, the other eight nominees to the
Board listed in the Company’s proxy statement, John R. Alexander, J.D.
Alexander, Robert E. Lee Caswell, Ramon A Rodriguez, John D. Rood, Charles L.
Palmer, Robert J. Viguet and Gordon Walker, PhD, were nominated to continue to
serve as directors and were elected as directors by a majority of the votes
present and voting at the meeting. Mr. Ramon A. Rodriquez replaced
Ms. D’An as Chairman of the Company’s Audit Committee and as the Committee’s
Financial Expert as required by applicable SEC and Nasdaq Rules. Mr.
Rodriquez currently also serves as Chairman of the Audit Committee of Republic
Services, Inc., a solid waste company listed on the NYSE. Other committee
assignments will be announced in a subsequent filing.
Inc., a land management company operating in Central and Southwest Florida, owns
approximately 135,500 acres of land located in Collier, Glades, Hendry, Lee and
Polk counties. Alico is involved in various agricultural operations and real
estate activities. Alico's mission is to grow its asset values through its
agricultural and real estate activities to produce superior long-term returns
for its shareholders.
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 are
also subject generally to other risks and uncertainties that are described from
time to time in the Company's reports and registration statements filed with the
Securities and Exchange Commission.