- After about 11 years in the position
- Praise for Bielli
- Search for a successor
- Bielli said 79 words
(exechange) — Tejon Ranch, California, March 20, 2024 — Gregory Bielli, chief executive of Tejon Ranch, is set to leave his position. As announced by Tejon Ranch Co. in a news release on Wednesday, March 20, 2024, Gregory S. Bielli leaves his post as chief executive officer at the real estate development and agribusiness company, after about 11 years in the role, effective December 31, 2024.
Tejon Ranch will undertake a search for a successor.
Long goodbye
It is a long goodbye. The announcement of Gregory Bielli’s move comes up to nine months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure particularly early may be considered a lame duck.
Lengthy lead times give boards extra time to find replacements, and they also create uncertainty. Would-be successors may jockey for attention and workers may wonder who is actually in charge.
Generally speaking, lame-duck leaders can take a forceful role in selecting a successor and are not expected to launch major shifts.
No reason given
In the announcement, Tejon Ranch did not explicitly explain the reason for the move.
Precise information regarding Gregory Bielli’s future plans was not immediately available.
“Retire”
Tejon Ranch said: “Mr. Gregory Bielli, President, and Chief Executive Officer (CEO) of Tejon Ranch Co., announced his intent to retire on December 31, 2024.”
Share price decline since March 2019
The announcement follows a decline in Tejon Ranch Co.’s share price of 16% since March 2019.
In the position of CEO since 2013
Gregory Bielli became CEO of the Company in 2013.
As a part of his retirement announcement, and with support of the Tejon Ranch Co. Board of Directors, Bielli will retain his Board of Directors seat after his retirement date.
Bielli will also serve as a senior advisor to the company through 2025, to provide a clear transition for the new President/CEO and the company into the future.
Bielli is President and CEO of Tejon Ranch Co., a position he’s held since December 2013.
Prior to this position, Bielli served as the Chief Operating Officer for the Company from September 2013 through November 2013.
Bielli has over 30 years of experience in real estate, land acquisition, development, and financing.
Prior to Tejon Ranch, he was a regional president of Newland Communities, one of the country’s largest and most successful master planned community developers.
Bielli served as President of Newland’s Western Region from 2006 until September 2013.
Bielli earned a bachelor’s degree in political science from the University of Arizona in 1983.
Bielli is currently a member of the CalChamber Executive Committee (Chairman), Member of the Executive Board of Southern California Leadership Council (Co-Chairman); and a member of ULI’s Community Development Council.
79 words by Gregory Bielli
In the release announcing his departure as CEO of Tejon Ranch Co., Gregory Bielli received praise.
In announcing his departure, Gregory Bielli said 79 words.
“A true honor and privilege”
Gregory Bielli stated: “Serving for the past 10 years as President and CEO of this amazing company has been a true honor and privilege. I feel very fortunate that we, as a team, have been able to accomplish so much for our shareholders and this one-of-a-kind historic ranch. The foundation that we have all been part of establishing these last 10 years will serve this company, its shareholders and the communities we enjoy being a part of for many years to come.”
The above text is an excerpt from the exechange report 13.2024 ($), publication date March 25, 2024.