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Business Observer Friday, Apr. 12, 2019 1 year ago

Citrus and land executive, after four years as CFO, gets CEO post

Alico promotes John Kiernan to CEO, Richard Rallo to CFO and Benjamin Fishman to chairman of the board.

FORT MYERS — Alico Inc. Chairman Hank Slack has announced several leadership appointments that will take effect July 1.

John Kiernan, who served as Alico’s CFO for the past four years, will become CEO. Richard Rallo,  Alico’s chief accounting officer for the past two years, will succeed Kiernan as CFO. Benjamin Fishman, who has been on Alico board of directors since 2014 and was chairman of its audit committee, will succeed Slack as chairman. 

Slack will remain a member of the board of directors of the Fort Myers-based company that operates Alico Citrus, one of the nation’s largest citrus producers, and Alico Water Resources and other operations.

 “It is the right time for these important leadership transitions, and the board and I are confident that they are made in the best interests of all of Alico shareholders,” says Slack in a statement. “The company is entering into a new phase wherein it is becoming increasingly well-positioned to acquire new strategic businesses, expand its citrus operations, reduce debt or return capital to shareholders.”

Since 2015, Kiernan has led the Alico finance team as CFO. Previously, he was CFO of Greenwich Associates, and held senior roles with Global Crossing, Misys PLC, IBM and Bear Stearns.

“In many important ways, Alico is the same company that our founders established more than a century ago,” says Kiernan in the release. “We are stewards of the Florida land that we own, and we are a leader in our industry. All of us on the leadership team remain focused on delivering improved returns to shareholders.”

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