President and CEO of Tejon Ranch Sets Retirement Date

Tejon Ranch Co. (TRC-NYSE) announced today that Mr. Gregory Bielli, its President and Chief Executive Officer (CEO), plans to retire on December 31, 2024. Having led the company for over a decade since 2013, Mr. Bielli has been instrumental in transforming Tejon Ranch into an integrated real estate powerhouse, overseeing diverse operations including planning, entitlements, construction, sales, leasing, and non-real estate ventures.

During his tenure, significant milestones have been achieved under Mr. Bielli’s leadership. These include obtaining new legislative land use entitlements and amendments, facilitating the development and reacquisition of over 5.5 million square feet of industrial and commercial spaces in the Tejon Ranch Commerce Center, and spearheading projects like The Outlets at Tejon and Terra Vista at Tejon residential development. Additionally, he has overseen expansions in water resources and farming operations, ensuring a robust financial footing for the company through rights offerings and refinancings while maintaining a strong balance sheet.

Reflecting on his time with the company, Mr. Bielli expressed gratitude for the opportunity to lead and collaborate with the team in achieving significant milestones for shareholders and the historic ranch itself. He emphasized the enduring foundation laid during his tenure that will continue to benefit the company and its stakeholders for years to come.

Upon his retirement, Mr. Bielli will retain his seat on the Board of Directors and serve as a senior advisor to facilitate a smooth transition for his successor and the company as a whole through 2025.

Norm Metcalfe, Chairman of the Board of Directors, lauded Mr. Bielli’s exemplary leadership and contributions, both within the company and through civic engagements across California. His continued involvement post-retirement is seen as pivotal in furthering the company’s mission and interests.

The Board of Directors has initiated a national search for Mr. Bielli’s successor, with the assistance of Korn Ferry and an ad hoc search committee comprising key board members, including Norm Metcalfe, Michael Winer, Steve Betts, and Gregory Bielli himself.

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