Campbell Estate Dave McCoy, chief executive officer of the $1.8 billion Campbell Estate for more than a decade, resigned recently for unclear reasons. He is being replaced by the estate's chief operating officer, Steve MacMillan, the estate said.
CEO steps down
Dave McCoy, citing the need for a change,
relinquishes the post to Chief Operating
Officer Steve MacMillanStar-Bulletin staff
"The average life of a CEO is about three-and-a-half years. After more than 10 years as the estate CEO, I am ready for a change," McCoy said in a prepared statement. "I feel good about the contributions I've made and I think the next person deserves a similar chance.
"While I do not like the idea of leaving many good friends at the estate, I am looking forward to finding new opportunities and challenges at another organization."
A Campbell Estate spokeswoman declined to comment beyond the press release.
"Dave has been with the estate for nearly 20 years and we hold him in the highest esteem for his many contributions to the estate's growth, diversification and development of the city of Kapolei," said Richard Gushman, chairman of the estate's board of trustees.
MacMillan, 52, joined the estate in 1981 and became COO in 1992. Before joining, he worked for former Big Five firm Amfac Inc. and Nikko USA Inc. MacMillan, born and raised in Hawaii, lives in Kahala with his wife and two children, the estate said. He is chairman of the nonprofit Child & Family Service and was immediate past president of the board of the Waianae Coast Comprehensive Health Center.
The estate, set up in 1900 by the will of the late Scottish carpenter James Campbell, is set to terminate in 2007.
It remains one of the state's largest private landowners, with more than 62,000 acres, as of 2001.