Another executive
departs from MLP

Paul Meyer, executive vice president of finance at Maui Land & Pineapple Co. for the last 20 years, will retire effective June 30.

His departure extends a recent string of executive changes at the company that began last May with the retirement of President and Chief Executive Gary Gifford and the decision by Chairman Richard Cameron to give up his title but remain on the board.

Other recent departures or new assignments have included the retirement of Don Young, president and CEO of MLP subsidiary Kapalua Land Co.; and the shift of Doug Schenk from president of subsidiary Maui Pineapple Co. to consultant of a new MLP business unit.

Meyer, 56, said he had been thinking about stepping down for several months and decided it was time for a change after having been with the company since 1984.

"I look forward to retiring and having more time to devote to nonprofit and community activities," he said.

Robert Werle, who will replace Meyer, has been a financial adviser at Maui Land & Pineapple for the past several months while assisting with the company's reorganization of its businesses. Werle's prior experience includes more than 18 years as in investment banker with several firms, including Jefferies & Co.; Robertson, Stephens & Co., and PaineWebber.

Maui Land & Pineapple's reorganization last year included the sales of Queen Kaahumanu Center and Napili Plaza, as well as the divestiture of substantially all of the company's assets of its Costa Rican pineapple affiliate. MLP also discontinued its fresh-cut product line to concentrate on more promising product categories.

David Cole, chairman, president and CEO, said he was sorry to see Meyer leave.


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