TEJON RANCH, Calif. - Tejon Ranch Co. (NYSE:TRC) announced today that Gregory Bielli, its President and CEO, intends to retire on December 31, 2024. Bielli, who has led the company since 2013, will continue to serve on the Board of Directors post-retirement and act as a senior advisor through 2025 to ensure a smooth transition.
During his tenure, Bielli has been instrumental in advancing Tejon Ranch's real estate and agricultural operations. The company has seen significant development under his leadership, including the construction of The Outlets at Tejon and the groundbreaking of Terra Vista at Tejon, the first residential project. Moreover, the company expanded its water resources, farming operations, and enhanced its financial stability through refinancings while maintaining a strong balance sheet.
Bielli expressed gratitude for his time at Tejon Ranch, emphasizing the accomplishments achieved for shareholders and the unique historic ranch. Norm Metcalfe, Chairman of the Board, lauded Bielli's contributions to the company's success and his civic involvement in California.
To find Bielli's successor, Tejon Ranch has engaged executive search firm Korn Ferry (NYSE:KFY) and established an ad hoc search committee led by board members including Metcalfe, Michael Winer, Steve Betts, and Bielli himself.
Tejon Ranch Co., with its 270,000-acre land holding, is a diversified real estate development and agribusiness firm, poised for growth with its commercial and residential projects.
This announcement is based on a press release statement from Tejon Ranch Co.
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