Alexander & Baldwin Inc. will have a change in leadership this summer as Chief Executive Officer Christopher Benjamin retires and is replaced by Lance Parker, who is currently A&B’s president and chief operating officer.

Benjamin will retire on June 30 but will serve as a consultant through the end of 2023 to ensure a smooth transition and complete various aspects of A&B’s simplification strategy, a company news release said on Wednesday.

Parker will assume the new position on July 1.

Eric Yeaman, A&B’s chairman of the board, said Benjamin accomplished his goal of transforming A&B “from a diversified conglomerate to a focused commercial real estate company.”

Benjamin

“Consistent with his long-term intent to retire at age 60, he is handing the reins to that team to lead A&B into the future, Yeaman said. “The Board and I appreciate his outstanding leadership over the past seven years.”

Benjamin was at the helm in 2016 when A&B phased out its sugar operations and Hawaiian Commercial & Sugar Co. closed. He also was general manager of HC&S from 2009 to 2011.

Focusing more on real estate, A&B sold 41,000 acres of agricultural land to Mahi Pono in 2018, though it remains half owner with the farming company of the East Maui Irrigation system.

“We have accomplished a great deal in transitioning A&B from a diversified operating business to a focused real estate company. I’m particularly proud of our focus on Hawaii and our commitment to the local community,” Benjamin said.

“With a stellar team of real estate experts in place under the leadership of Lance Parker, I am confident in A&B’s trajectory as a Hawaii commercial real estate company.”

Parker, formerly head of A&B’s real estate division, was named COO in 2021 and promoted to president earlier this year. He joined the company in 2004 in an acquisition role and has held positions of steadily increasing responsibility throughout his career at A&B, including oversight of A&B’s Mainland commercial portfolio back to Hawaii and the development of a fully-integrated, in-house property management and leasing capability, the news release said.

“I am honored to have been selected as A&B’s next CEO,” said Parker. “I look forward to continuing to work with our dedicated employees and Board of Directors to expand A&B’s real estate portfolio and strengthen our position as partners for Hawaii.”

Born and raised in Hawaii, Parker began his career in commercial real estate in Southern California before returning to the islands to join the company. He holds a bachelor’s degree in finance from the University of Southern California and is a graduate of Kamehameha Schools.

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