The Board of Directors of Alico, Inc. today announced the appointment of Senator JD Alexander as its full-time Chief Executive Officer and President, effective April 2, 2012.
Alexander has served as Alico’s Chief Executive Officer and President on a less than full-time basis since February 2010. He previously served as a director of Alico, Inc. in 2004 and 2005 and has served on the Alico Board from January 2008 to the present. He also serves as the Board’s Vice-Chairman and will continue to serve in that capacity.
Alexander will make $380,000 a year, according to the AP’s Gary Fineout.
Alexander also served as the President and Chief Executive Officer of Alico’s controlling shareholder, Atlantic Blue Group, Inc., a position from which he will resign effective March 31, 2012. Alexander will continue as the Chairman of the Board of Atlantic Blue Group, Inc.
“The Board believes that JD Alexander and his team have been very effective in reducing operating costs and improving the efficiency of the company’s operations since his appointment in February 2010,” said Ramon Rodriguez, Chairman of Alico’s Audit Committee. Further, Mr. Rodriguez said, “We recognize there is work to be done to broaden the shareholder base and increase capital market awareness. The Board believes that JD is uniquely qualified to lead the company in these efforts.”
Alexander stated, “I am excited about the opportunity to focus my efforts exclusively on Alico. We have made tremendous progress since my appointment in February 2010, and while our work is not complete, I am confident we will continue to build our operating results and focus significant effort on broadening the capital market awareness of the company. I thank the Board for their continued trust and confidence in me and look forward to working with them for the future of Alico.”