The St. Joe Company Announces Retirement of Jeff Keil, Successor & Management Changes
WATERSOUND, Fla.--(BUSINESS WIRE)--
The St. Joe Company (NYSE: JOE) today announced that Jeffrey Keil is
retiring from his position as President & Interim Chief Executive
Officer, effective as of November 18, 2015. Mr. Keil has served as a
Director on the St. Joe Board of Directors since 2011 and assumed the
position of President and Interim CEO in August 2014 upon the retirement
of Park Brady.
"The entire Board would like to thank Jeff for his agreeing to step in
and serve as our President and Interim CEO during a time of need. His
leadership during a period of transition at St. Joe was invaluable.
Among many things, Jeff was instrumental in assessing talent at St. Joe
and formulating a succession plan for our executive leadership," said
Bruce Berkowitz, Chairman of the Board.
Mr. Keil, who has also resigned from his position on the Board of
Directors as of November 18, said "It would be difficult for me to
imagine a happier way to conclude my tenure with St. Joe than by
announcing that Jorge Gonzalez, a senior colleague at St. Joe, has been
selected as my successor as President & CEO. Jorge has been with St. Joe
for 13 years and his most recent assignment has been Senior Vice
President of Development. In that capacity he supervised the long and
complex sector planning entitlement process that was successfully
concluded earlier this year, leaving the company in a position to
advance development of the beautiful and contiguous land it has owned
for over 50 years."
Mr. Gonzalez has held positions of increasing responsibility throughout
his tenure with the Company. "Jorge's experience and thorough
understanding of the Company's history and operations, as well as his
leadership capabilities make him an excellent choice to lead St. Joe,"
said Bruce Berkowitz.
"I am excited to lead St. Joe in the position of President and CEO and I
look forward to working with the talented team of individuals to take
the Company into the future," said Jorge Gonzalez. Mr. Gonzalez has also
been appointed to fill the vacancy on the Company's Board of Directors
created by Mr. Keil's retirement.
The Company also announced today the departure of Patrick Bienvenue,
Executive Vice President, effective as of November 18, 2015. Mr.
Bienvenue is relocating and plans to pursue other opportunities. Mr.
Bienvenue joined St. Joe in September of 2011, during a time of
transition with St. Joe's Board and management team. "Patrick has been
invaluable over the last four years and we have benefited from his
leadership and dedication in significant ways, particularly as it
relates to the advancement of strategic planning and development
initiatives, as well as his contribution to the accomplishment of
significant development rights for the Company. We wish him well and
thank him for his leadership," said Jeff Keil.
Important Notice Regarding Forward-Looking
This press release includes forward-looking statements, including the
Company's statement regarding its belief that it is positioned to
advance development of its contiguous land. The statements made by the
Company are based upon management's current expectations and are subject
to certain risks and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements. These risks and uncertainties include market conditions and
other factors beyond the Company's control and the risk factors and
other cautionary statements described in the Company's filings with the
SEC, including the Company's Annual Report on Form 10-K filed with the
SEC on February 27, 2015 as updated by subsequent Quarterly Reports on
Form 10-Qs and other current report filings.
About The St. Joe Company
The St. Joe Company together with its consolidated subsidiaries is a
real estate company concentrated primarily between Tallahassee and
Destin, Florida. More information about the Company can be found on its
website at www.joe.com.
© 2015, The St. Joe Company. "St. Joe®", "JOE®", the "Taking Flight"
Design®, "St. Joe (and Taking Flight Design)®" are registered service
marks of The St. Joe Company.
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The St. Joe Company
Chief Financial Officer
Source: The St. Joe Company
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