Douglas Pasquale Joins Alexander & Baldwin Board
HONOLULU--(BUSINESS WIRE)--April 28, 2005--Douglas M. Pasquale was today elected to the board of directors by the shareholders of Alexander & Baldwin, Inc. (Nasdaq:ALEX), announced A&B Chairman of the Board Charles M. Stockholm, bringing with him extensive experience in the fields of real estate and finance, and executive leadership for large, national companies. "We are very pleased to welcome Mr. Pasquale to A&B's board and know that his background and experience will benefit future board deliberations," said Stockholm.
Pasquale, 50, is the president and chief executive officer of Nationwide Health Properties, Inc., a publicly traded real estate investment trust headquartered in Newport Beach, Calif., which owns over 400 residential care facilities for the elderly -- one of the largest such companies in the U.S. He joined Nationwide in November 2003 as executive vice president & chief operating officer after five years at ARV Assisted Living, Inc. of Costa Mesa, Calif., during which time he served first as president and CEO, and then chairman of the board of this assisted living company, again one of the nation's largest.
Prior to that, he was with Richfield Hospitality Service, Inc. for a dozen years, starting as vice-president and assuming roles of increasing responsibility, including chief financial officer and finally president and CEO of their Regal Hotels International-North America division. Pasquale also was chief financial officer for Foxley & Company, one of the nation's largest privately held agribusiness companies.
"Doug's experience with large national companies and in many areas relevant to A&B will make him a valuable contributor to A&B's future course of growth," added Allen Doane, A&B president, chief executive officer and board member. "I look forward to working closely with him and, as always, the other members of the A&B board."
Pasquale becomes the tenth member of the A&B board, six of whom are residents of Hawaii. He also will serve on the board of A&B's subsidiary, Matson Navigation Company, Inc.
Pasquale earned both a master's degree in business administration and a bachelor's degree in business from the University of Colorado at Boulder.
Pasquale is a member of the executive board of the American Senior Housing Association and, in addition to joining the A&B board, he currently serves on the corporate board of Nationwide Health Properties.
A&B's major lines of business are transportation (Matson Navigation Company, Inc., Matson Intermodal Systems, Inc.); real estate (A&B Properties, Inc.); and food products (Hawaiian Commercial & Sugar Company, Kauai Coffee Company). Additional information about A&B may be found at its web site: www.alexanderbaldwin.com.
CONTACT: Alexander & Baldwin, Inc.
Meredith J. Ching, 808-525-6669
SOURCE: Alexander & Baldwin, Inc.