Loading
FORT MYERS — Agribusiness company Alico says Donald Schrotenboer, the president of its land-development subsidiary, will leave the company Sept. 30.
Schrotenboer is president of Alico Land Development Inc, a residential and commercial development subsidiary of the Fort Myers-based grower of citrus, sugarcane and cattle.
A short, two-paragraph statement says Alico “reached an agreement to cease employment” with Schrotenboer because it is focusing on agricultural operations and rural-land management.
A filing by Alico late Tuesday with the Securities and Exchange Commission says Schrotenboer will earn a lump-sum severance payment of $168,750 on Oct. 1 and will be paid $150 an hour for any consulting he does after that.
“Don has been a tremendous asset to the Alico organization for the past four years. We wish him much success in his future endeavors,” says JD Alexander, Alico's president and CEO, in the statement.
Alico has been selling land it owns for residential and commercial development. Recently, the company sold 5,200 acres near Florida Gulf Coast University in Fort Myers for $10 million, sustaining a $55 million loss on the deal. You can read more about that land deal here and here.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
