Tejon Ranch Company appoints Matthew Walker as President and CEO, effective March 31, 2025, succeeding Gregory Bielli.
Quiver AI Summary
Tejon Ranch Company's Board of Directors has appointed Matthew Walker as the new President and CEO, effective March 31, 2025, following Gregory S. Bielli's retirement. Walker, who currently serves as Executive Vice President at Lowe Enterprises, will initially join Tejon Ranch as Chief Operating Officer on March 6, 2025. With 24 years of experience in real estate, particularly in hospitality and resort development, and an educational background in architecture and business, Walker is expected to enhance the company's growth potential. He expressed enthusiasm for the opportunity to manage the ranch's development responsibly, serve the community with needed jobs and housing, and focus on the strategic planning of upcoming master planned communities. Chairman Norman Metcalfe emphasized the importance of Walker's unique development expertise in driving the next phase of growth for Tejon Ranch, while also acknowledging Bielli's significant contributions to the company during his tenure.
Potential Positives
- Matthew Walker has been selected as the new President and CEO, bringing over 24 years of experience from Lowe Enterprises, indicating strong leadership for the company's future.
- Walker's commitment to responsible development aligns with Tejon Ranch's goals of balancing conservation and economic opportunity, potentially enhancing the company's public image and community relations.
- The leadership transition occurs at a pivotal time, with plans to capitalize on the success of the Tejon Ranch Commerce Center and advance three additional master planned communities, indicating strategic growth opportunities.
- Gregory Bielli, the outgoing CEO, expressed confidence in Walker's capabilities, suggesting a smooth transition that could maintain or boost shareholder value.
Potential Negatives
- Transitioning leadership can create uncertainty among investors and employees, especially with the outgoing CEO remaining in an advisory role.
- The press release emphasizes the need for responsible development, which may indicate previous concerns about the company's impact on conservation and local communities.
- The announcement follows the retirement of a long-serving CEO, potentially signifying a significant shift in company strategy or direction that could impact current projects.
FAQ
Who is the new President and CEO of Tejon Ranch Company?
The new President and CEO is Matthew (Matt) Walker, effective March 31, 2025.
When will Matthew Walker officially take over as CEO?
Matthew Walker will officially become President & CEO on March 31, 2025.
What was Gregory Bielli's role at Tejon Ranch Company?
Gregory Bielli served as President & CEO and will retire on March 31, 2025.
What is Matthew Walker’s professional background?
Matthew Walker has 24 years of experience in real estate, primarily with Lowe Enterprises.
What is the significance of Tejon Ranch for California?
Tejon Ranch represents a balance of conservation and economic opportunity, providing jobs and housing.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TRC Insider Trading Activity
$TRC insiders have traded $TRC stock on the open market 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 have been sales.
Here’s a breakdown of recent trading of $TRC stock by insiders over the last 6 months:
- GEOFFREY L STACK has made 0 purchases and 12 sales selling 30,338 shares for an estimated $486,148.
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$TRC Hedge Fund Activity
We have seen 37 institutional investors add shares of $TRC stock to their portfolio, and 43 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG removed 739,577 shares (-97.4%) from their portfolio in Q3 2024, for an estimated $12,979,576
- SANTA MONICA PARTNERS LP removed 175,701 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $2,793,645
- ROYCE & ASSOCIATES LP removed 80,828 shares (-20.5%) from their portfolio in Q4 2024, for an estimated $1,285,165
- BULLDOG INVESTORS, LLP added 68,859 shares (+inf%) to their portfolio in Q3 2024, for an estimated $1,208,475
- VANGUARD GROUP INC added 68,458 shares (+3.2%) to their portfolio in Q3 2024, for an estimated $1,201,437
- PRICE JENNIFER C. removed 53,397 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $937,117
- GAMCO INVESTORS, INC. ET AL removed 51,589 shares (-7.2%) from their portfolio in Q3 2024, for an estimated $905,386
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
TEJON RANCH, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Today, the Board of Directors for the Tejon Ranch Company (NYSE: TRC) announced the unanimous selection of Matthew (Matt) Walker as the company’s next President and CEO. Walker will join the company as of March 6, 2025 as a Chief Operating Officer, becoming President & CEO as of March 31, 2025. Walker succeeds Gregory S. Bielli, who previously announced his retirement in March of 2024, after joining the company in 2013. Walker’s selection capstones a nationwide search led by an ad-hoc committee of the company’s Board of Directors.
Mr. Walker comes to Tejon Ranch following a distinguished 24-year career at Los Angeles-based real estate firm Lowe Enterprises. Walker currently serves as Executive Vice President and Shareholder at Lowe, overseeing the firm’s hospitality and resort community platform. Originally trained as an architect, his extensive real estate experience includes resort and residential development, residential sales and marketing, master planned community entitlement and development, as well as resort value add investment and expansion. Walker also brings experience in capital development and joint venture formation. Most importantly, over the course of his career, Walker has cultivated projects which are authentic to their place and create lasting loyalty from residents and guests.
Prior to joining Lowe, Mr. Walker held positions at several architectural firms. Walker earned a Bachelor of Architecture from Cornell University and a Master of Business Administration from the UCLA Anderson School of Management.
“I’m honored to join Tejon Ranch Company as their next Chief Executive,” said Walker. “Tejon Ranch is more than a piece of land; it represents the state’s true balance of conservation and economic opportunity. As a fifth generation Californian, I’ve long been fascinated by this legacy property, and I firmly believe that the responsible development of Tejon Ranch is integral to the future success of California. Tejon Ranch will provide desperately needed jobs, housing and economic development opportunities to Southern California. I’m excited by the opportunity to work with our Board, management team and partners to power growth potential. By building on the success that is the Tejon Ranch Commerce Center and making progress on the company’s three additional master planned communities, Tejon Ranch is well positioned to unlock value for shareholders.”
Norman Metcalfe, Chairman of the Board said, “I’m very pleased to welcome Matt to the Tejon Ranch Company. Matt joins at a pivotal time for the company, and his unique development background – along with his skills at creating immersive guest and consumer experiences – will be crucial to the next phase of the company’s growth. Matt’s fresh perspective, combined with the experienced leadership team, will ensure the company can continue to monetize our landholdings, plan for the future and drive shareholder value.”
Continued Metcalfe, “I’d like to thank Greg Bielli for his tenure and contributions to Tejon Ranch Company. Under Greg’s leadership the company developed and opened the Outlets at Tejon, continued developing and expanding the Tejon Ranch Commerce Center, envisioned and developing the first residential community on the ranch, Terra Vista at Tejon, secured entitlement approvals and entitlement amendments for the Grapevine, Mountain Village and Centennial master planned communities, and engaged in key local, regional and state and civic economic development initiatives.”
Bielli will retire as President & CEO on March 31, 2025. Bielli will continue to serve as an executive advisor and as a Director on the Tejon Ranch Board.
“I’m delighted to hand the reins over to a professional of Matthew Walker’s caliber,” said Gregory Bielli, Tejon’s current President & CEO. “His background and skills are important to advancing the company’s goals. As I look back fondly on my time at Tejon, it’s been an honor to lead this team of talented professionals and grow the economic base for our shareholders.”
Tejon Ranch is poised for future growth, capitalizing on the success of the Tejon Ranch Commerce Center – including the impending completion of the first units of the company’s multifamily development, Terra Vista – to guide the future development of the company’s three additional master planned communities.
About Tejon Ranch Company (NYSE: TRC)
Tejon Ranch Company is a diversified real estate development and agribusiness Company whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. For more information on the Company, please go to
www.tejonranch.com
.
CONTACT: Nick Ortiz
Cell: (661) 331-0313
Email: nortiz@tejonranch.com
This article was originally published on Quiver News, read the full story.
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