Trustees to resign from
Parker Ranch Trust
WAIMEA, Hawaii >> The two remaining trustees of the Parker Ranch Foundation Trust, Tom Whittemore and Mel Hewett, will leave the trust in the next two years, the trust announced yesterday.
Whittemore, 55, will leave next year for other pursuits. Hewett, 70, will retire in 2005. They follow trustee Carl Carlson, who announced his intent to leave in August but has continued in his post pending the selection of a replacement.
The nonprofit trust owns the for-profit, 175,000-acre Parker Ranch, which provides income for four charities: the North Hawaii Community Hospital, Hawaii Preparatory Academy, Parker School Trust Corp. and the Hawaii Community Foundation's Richard Smart Fund.
A Trustee Selection Advisory Committee composed of four people named by the trustees and four named by the beneficiaries will make nominations for replacement trustee. The trustees will make the selections.
The trust was set up in 1992, the year former Parker Ranch owner Richard Smart died.
Carlson, Hewett and Whittemore previously had direct responsibility for ranch operations, but last year a restructuring began that put daily control of the ranch in the hands of David Houle, named president and chief executive officer.
He receives policy guidance from a separate board of directors of Parker Ranch Inc.
