- After around nine years in the position
- Praise and good wishes for Rozek
- Elimination of dual Chief Executive Officer role
- Adam Peterson becomes sole Chief Executive Officer
- Rozek said 83 words
(exechange) — Omaha, Nebraska, May 10, 2024 — Alex Rozek, co-chief executive of Boston Omaha, leaves. As announced by Boston Omaha Corp. in a news release and in a regulatory filing published on Friday, May 10, 2024, Alex B. Rozek, co-chief executive officer, has left the holding company with four majority owned businesses engaged in outdoor advertising, broadband telecommunications services, surety insurance and asset management, after around nine years in the role, effective May 9, 2024.
Generally speaking, it raises questions when a co-CEO leaves his post abruptly.
Boston Omaha eliminates the dual Chief Executive Officer role. Adam K. Peterson will be sole Chief Executive Officer.
“To pursue new entrepreneurial opportunities”
The management change is explained as follows. Boston Omaha stated: “Alex Rozek, Co-CEO and Co-Chair, has left the Company, effective as of May 9, 2024 to pursue new entrepreneurial opportunities.”
Precise information regarding Alex Rozek’s future plans was not immediately available.
“Left the Company”
Boston Omaha said: “Alex Rozek, Co-CEO and Co-Chair, has left the Company, effective as of May 9, 2024.”
Boston Omaha further said: “On May 9, 2024, the Board appointed Adam K. Peterson as the sole Chairman and sole Chief Executive Officer of the Company, succeeding Mr. Rozek, whose positions as Co-Chief Executive Officer and as Co-Chairperson and a member of the Board of Directors … of the Company ended effective May 9, 2024.”
“Not the result of a disagreement”
Boston Omaha stated, regarding the change: “Mr. Rozek’s departure is not the result of a disagreement with the Company on any matter related to the Company’s operations, policies or practices.”
Share price decline since May 2021
The announcement follows a decline in Boston Omaha Corp.’s share price of 45% since May 2021.
In the position of CEO since 2015
Alex Rozek became CEO of the Company in 2015.
Alex B. Rozek has been Co-Chairperson of the Company’s Board of Directors, Co-Chief Executive Officer and President since February 2015, when he became a member of the Company’s Board of Directors.
He also serves as the Managing Member of Boulderado Partners, LLC, a private investment partnership founded in July 2007.
From 2004 to 2007, Rozek served as an analyst for Water Street Capital and Friedman Billings Ramsey Group.
Prior to 2004, he worked for Hunton & Williams and FedEx.
From August 2020 through January 2022, Rozek served as Co-Chairperson of the Board of Directors and Co-Chief Executive Officer of Yellowstone.
Rozek continues to serve on the Sky Board of Directors following the completion of the Sky business combination with Yellowstone in January 2022.
In March 2022, Rozek became a Director of Dura Software.
Rozek graduated with a B.S. in Biology and a Minor in Chemistry from the University of North Carolina at Chapel Hill.
83 words by Alex Rozek
In the release announcing his departure as co-CEO of Boston Omaha Corp., Alex Rozek received praise and good wishes.
In the release announcing his departure as co-CEO, Alex Rozek said 83 words.
“I feel this is a good point to move on to my next new venture”
Alex Rozek stated: “After nearly a decade of consistent growth and building significant businesses across multiple categories, I feel this is a good point to move on to my next new venture. I want to thank Adam and all of the amazing people across Boston Omaha for their work through the years. I will work with the management team and the board so that there is a smooth transition, and I will continue to be an enduring fan of Boston Omaha and its businesses and investments.”
The above text is an excerpt from the exechange report 20.2024 ($), publication date May 13, 2024.