Largest Shareholder Reaffirms His Commitment to MLP and Maui
Maui Land & Pineapple Company, Inc. (NYSE:MLP) today announced that
Steve Case has been elected to its board of directors, effective
immediately. Case, the co-founder of AOL, is MLP’s largest shareholder,
having accumulated a 42% stake over the past decade.
Case said, “I am proud to be associated with a great Hawaii company with
such a long and distinguished history on Maui. MLP has begun to make the
necessary moves to position itself for a resurgence, and I look forward
to working with the board and management team to help the company
capitalize on its potential.”
David C. Cole, Chairman and CEO of MLP, said, “We are delighted that
Steve has agreed to join the board of MLP. Having one of the nation’s
preeminent entrepreneurs, who was born and raised in Hawaii and cares
deeply about its future, agree to step up in this way sends a great
signal to all of our constituencies about MLP’s future.”
About the Company
Maui Land & Pineapple Company, Inc. is committed to the integration of
agriculture, natural resource management and eco-effective design
principles to create and manage holistic communities. MLP’s vision of
holistic communities is based on the traditional Hawaiian model of
ahupua`a, a system of self-reliance based on the artful use of land and
water resources to sustain island life indefinitely. MLP is a Hawaii
corporation and successor to a business organized in 1909. Its principal
operating subsidiaries are Maui Pineapple Company, Ltd., a producer and
marketer of Maui-grown pineapple, and Kapalua Land Company, Ltd.,
operator of Kapalua Resort, a master-planned resort community in West
Maui.
Maui Land & Pineapple Company, Inc.
Robert I. Webber,
808-877-1674
FAX: 808-871-0953
