Maui Land & Pineapple Company appoints new board members to support next chapter of growth
04 January 2024 - 10:15AM
Maui Land & Pineapple Company, Inc. (NYSE: MLP) announced the
appointment of two new Independent Directors to its Board,
effective January 1, 2024: Catherine Ngo, a seasoned leader at the
intersection of finance, technology, and law; and Maui native Ken
Ota, a successful local entrepreneur with over 30 years of
experience in the construction industry and water infrastructure.
“Catherine and Ken embody esteemed leadership and we are honored
to add them to our diverse slate of Directors. We look forward to
their thoughtful guidance as we chart the course for a future of
growth,” said Race Randle, CEO of Maui Land & Pineapple
Company. “Their expertise includes local and national best
practices in areas ranging from finance to critical infrastructure,
which will bring valuable insights as we maximize the utilization
of our land and commercial assets. Our next steps aim to support
community needs while delivering increased value to our
stakeholders.”
Catherine Ngo is an expert in finance,
technology, and law, with decades of experience in the public,
private and nonprofit sectors. She currently serves as the Chair of
Central Pacific Financial Corp (NYSE: CPF), and was previously
Executive Vice Chair. Prior to that, she served as President and
CEO of Central Pacific Bank for six years. Ngo was also a founding
general partner of Startup Capital Ventures, an early-stage venture
capital firm established in 2005. A graduate of the University of
Virginia School of Law, Ngo started her career in private law
practice for seven years, then joined Silicon Valley Bank (SVB) as
Executive Vice President and General Counsel until 2005, where she
also oversaw the operations and risk divisions of the company. Ngo
is actively involved in several prominent boards and committees
including Queen’s Health Systems, Hawaiʻi Community Foundation, and
Catholic Charities of Hawaiʻi. She also serves as a board member
for Hawaiʻi Gas, chairs the Federal Reserve Bank Community
Depository Institutions Advisory Council (FRB CDIAC) for the 12th
District, and is a member of the National FRB CDIAC in Washington,
D.C.
Ken Ota has more than three decades of
experience in the construction industry and has become a local
expert in water-related infrastructure. Ota founded and led Pacific
Pipe Company as President and CEO. In 2021, Pacific Pipe Company
was acquired by Core and Main, Inc. (NYSE: CNM), one of the world’s
leading distributors of water, wastewater, storm drainage and fire
protection products, where Ota continues to serve as Hawai‘i Area
Director. Ota is an active member of the Maui community and
currently serves on the State of Hawaiʻi Licensing Board of
Engineers, Architects, Surveyors, and Landscape Architects as well
as the Alexander & Baldwin Sugar Museum. He is also a board
member of the private equity and real estate company, Tradewind
Capital. Ken graduated from the University of Hawai‘i at Manoa with
a bachelor’s degree in Business Finance.
With the addition of Ngo and Ota, Maui Land & Pineapple
Company’s Board of Directors will be comprised of seven independent
directors of diverse communities with versatile expertise.
Media Kit
- Photos (Courtesy: Maui Land & Pineapple Company)
About Maui Land & Pineapple
Company Maui Land & Pineapple Company, Inc.
(NYSE: MLP) is dedicated to the thoughtful stewardship of over
22,000 acres of land along with approximately 260,000 square feet
of commercial properties. Founded as a family company in 1909,
today MLP envisions a future where Maui residents thrive in more
resilient communities with additional housing opportunities, food
and water security, and renewed connections of people and place.
For over a century, MLP has built a legacy of authentic innovation
through conservation, agriculture, community building, and land
management. Our mission is to carefully maximize the productive use
of our assets in a way that honors the past, meets the critical
needs of the present, and enables a thriving future.
Company assets include land for future residential
communities within the world-renowned Kapalua Resort, home to
luxury hotels such as The Ritz-Carlton Maui and Montage Kapalua
Bay, two championship golf courses, pristine beaches, a network of
walking and hiking trails and the Pu‘u Kukui Watershed, the largest
private nature preserve in Hawai‘i.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include, but
are not limited to statements regarding the utilization of our land
and commercial assets, the impact of our new directors and value
creation to our stakeholders. These forward-looking statements are
based upon the current beliefs and expectations of management and
are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are
beyond the control of Maui Land & Pineapple Company. In
addition, these forward-looking statements are subject to
assumptions with respect to future business strategies and
decisions that are subject to change. Actual results may differ
materially from the anticipated results discussed in these
forward-looking statements because of possible uncertainties.
Factors that could cause actual results to differ materially from
those expressed in the forward-looking statements are discussed in
Maui Land & Pineapple Company’s reports (such as Annual Reports
on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K) filed with the SEC and available on the SEC's Internet
site (http://www.sec.gov). We undertake no obligation to publicly
update any forward-looking statement, whether written or oral, that
may be made from time to time, whether as a result of new
information, future developments or otherwise.
# # #
Investors:
Wade Kodama | Chief Financial Officer | Maui Land & Pineapple Company
e: wkodama@kapalua.com
Media:
Ashley Takitani Leahey | Vice President | Maui Land & Pineapple Company
e: ashley@mauiland.com
Dylan Beesley | Senior Vice President | Bennet Group Strategic Communications
e: dylan@bennetgroup.com
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