Alexander & Baldwin Appoints George M. Morvis Jr. Vice President of Land Group

January 4, 2012

Will Head Corporate Development

HONOLULU--(BUSINESS WIRE)--Jan. 4, 2012-- Alexander & Baldwin, Inc. (A&B) (NYSE:ALEX) has appointed George M. Morvis Jr. to the position of vice president, corporate development of the A&B Land Group, which encompasses A&B Properties, Inc. and A&B’s agricultural businesses. Morvis will oversee Land Group corporate development activities – ranging from organic growth initiatives to potential business acquisitions and joint ventures – and will report to Christopher J. Benjamin, president of the A&B Land Group; his appointment was effective January 3. Morvis had worked for A&B in the early 1990s and had recently served as a consultant to the Company.

Alexander & Baldwin Appoints George M. Morvis Jr. Vice President of Land Group (Photo: Business Wire ...

Alexander & Baldwin Appoints George M. Morvis Jr. Vice President of Land Group (Photo: Business Wire)

“Investment and growth within our Hawaii operations is an essential focus,” Benjamin said, “and George has proven to be a valuable contributor to A&B over the last two decades, both as a consultant and previously as an employee. Over the last year, he has spearheaded two important transactions—our partnership with one of the world’s leading marketers of coffee, multi-national coffee company Massimo Zanetti Beverage, and our agreement with Kaua’i Island Utility Cooperative (KIUC) to build a 6 MW utility-scale solar photo-voltaic (PV) facility on Kauai. We are very pleased to welcome George back to A&B on a full-time basis.” Benjamin added, “The corporate development function within the Land Group will complement our robust real estate acquisition, development and investment capabilities at A&B Properties to drive shareholder value creation going forward.”

Morvis returns to A&B after eighteen years as managing director of Financial Shares Corporation, a boutique consulting firm, where he headed the strategy consulting practice and managed the firm’s Hawaii office. He had served A&B in 1993 as manager, investor relations and financial communications, having started his career at First Hawaiian Bank.

Morvis earned a master’s degree in management from Northwestern University’s Kellogg Graduate School of Management and a bachelor’s degree in finance from the University of Illinois.

Alexander & Baldwin, Inc. is headquartered in Honolulu, Hawaii and is engaged in ocean transportation and logistics services through its subsidiaries, Matson Navigation Company, Inc. and Matson Logistics, Inc.; in real estate through A&B Properties, Inc.; and in agribusiness through Hawaiian Commercial & Sugar Company. Additional information about A&B may be found at its web site:

Statements in this press release that are not historical facts are “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with our Annual Report on Form 10-K and our other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release. We do not undertake any obligation to update our forward-looking statements.

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Source: Alexander & Baldwin, Inc.

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