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Alexander & Baldwin to terminate 2 pension plans
Alexander & Baldwin Inc., Honolulu, will terminate its two pension plans later this year.
The real estate company s board of directors voted Tuesday to terminate its two plans, the A&B Retirement Plan for Salaried Employees of Alexander & Baldwin LLC and the Pension Plan for Employees of A&B Agricultural Cos., according to its 10-K filing Friday with the SEC.
The terminations of the plans will be effective May 31, the filing said. A&B will provide a window for participants to elect to receive a lump sum or a monthly payment from an insurance plan from which the company will purchase a group annuity contract.
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HONOLULU, Feb. 25, 2021 /PRNewswire/
Alexander & Baldwin, Inc. (NYSE: ALEX) ( A&B or Company ), a Hawai i-based company focused on owning and operating high-quality commercial real estate in Hawai i, today announced financial results for the fourth quarter and full-year of 2020.
Chris Benjamin, A&B president & chief executive officer stated: We began 2020 focused on advancing our strategic agenda and are pleased by the progress made despite the obvious hurdles imposed by COVID-19. Fourth quarter 2020 results highlight continued recovery of our commercial real estate ( CRE ) collections while full-year 2020 results reflect positive momentum in asset monetization and Grace Pacific performance. Our portfolio of needs-based retail, industrial and ground leases has shown resilience over the course of the COVID-19 pandemic, with year-end occupancy down only 40 basis points from 2019 and fourth-quarter collections at 85%.
Alexander & Baldwin, Inc. (NYSE:ALEX)
(A&B) will report results for the fourth quarter and full-year 2020 after the market closes on Thursday, February 25, 2021. In connection with this announcement, A&B will host a live webcast of its conference call with financial analysts and institutional investors on Thursday, February 25, 2021 at 5:00 p.m. ET.
The webcast and call will feature a presentation on operating and financial performance, followed by questions from sell-side research analysts participating in the interactive portion of the discussion. Parties listening via the webcast will be in a listen-only mode.
Company participants on the call will be Chris Benjamin, president and chief executive officer, and Brett Brown, executive vice president and chief financial officer, along with other members of senior management.
Greenbrier Appoints New Lead Director
~ Adm. Thomas Fargo assumes role from Duane McDougall, who continues as Independent Director
~~ Furthers commitment to board refreshment and board leadership by independent directors
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LAKE OSWEGO, Ore., Jan. 25, 2021 /PRNewswire/ The Greenbrier Companies, Inc. (NYSE: GBX) ( Greenbrier ), announced today the appointment of four-star Admiral Thomas B. Fargo, USN (ret.) to the company s Lead Director position. Fargo joined Greenbrier s Board in 2015 as an Independent Director and has served as Chair of the Compensation Committee since 2017.
Admiral Thomas B. Fargo
Fargo assumes the role of Lead Director from Duane McDougall, who held the position from 2014 to January 2021. McDougall previously served as the CEO of forest products company, Willamette Industries. McDougall serves on the board of Boise Cascade, where he was Board Chair from 2013-2015, and as Lead Director for privately-