Alico, Inc. Announces Resignation of Remy W. Trafelet as President and Chief Executive Officer and a Member of the Board
February 11, 2019 at 04:45 pm EST
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On February 11, 2019, Alico, Inc. along with George R. Brokaw, R. Greg Eisner, Benjamin D. Fishman, W. Andrew Krusen, Henry R. Slack entered into a Settlement Agreement and Release (the "Settlement Agreement") with Remy W. Trafelet, the former president and chief executive officer of the company, 734 Agriculture, LLC ("734 Agriculture"), RCF 2014 Legacy LLC ("RCF") and Delta Offshore Master II, LTD. (collectively with Trafelet, 734 Agriculture and RCF, the "Trafelet Parties"). On February 11, 2019 and as contemplated by the Settlement Agreement, Remy W. Trafelet submitted to the Board his resignation as president and chief executive officer of the Company and a member of the Board, effective upon the execution of the Settlement Agreement.
Alico, Inc. is an agribusiness and land management company. The Company is engaged in the sale of its citrus products, providing services to citrus groves owned by third parties, and grazing and hunting leasing. Its segments include Alico Citrus and Land Management and Other Operations. Alico Citrus segment is engaged in planting, owning, cultivating and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing and hauling of citrus. Its Land Management and Other Operations segment includes activities related to native plant sales, grazing and hunting leasing, management and/or conservation of unimproved native pastureland and activities related to rock mining royalties and other insignificant lines of business. It owns over 73,000 acres of land and 90,000 acres of mineral rights throughout Florida.
ALICO, INC. 
