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MarketScreener Homepage  >  Equities  >  Nyse  >  BBX Capital Corporation    BBX

BBX CAPITAL CORPORATION

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Bluegreen Vaca :tions Corporation Announces Resignation Of Shawn B. Pearson; Alan B. Levan Appointed as President and Chief Executive Officer; Raymond S. Lopez Appointed as Chief Operating Officer

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11/28/2019 | 07:26am EDT

FORT LAUDERDALE, Fla.- BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) ('BBX Capital'), announced that Bluegreen Vacations Corporation (NYSE: BXG), which is 90% owned by BBX Capital, issued the following press release. Please see the Bluegreen press release below.

About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) is a Florida-based diversified holding company whose principal investments include Bluegreen Vacations Corporation (NYSE: BXG), BBX Capital Real Estate, Renin Holdings, and IT'SUGAR. For additional information, please visit www.BBXCapital.com.

BBX Capital Corporation Investor Relations Contact:

Leo Hinkley, Managing Director, Investor Relations Officer

Phone: 954-940-5300

Email: LHinkley@BBXCapital.com

Bluegreen Vacations Corporation Announces Resignation of Shawn B. Pearson

Alan B. Levan Appointed as President and Chief Executive Officer

Raymond S. Lopez Appointed as Chief Operating Officer

BOCA RATON, Fla. - Bluegreen Vacations Corporation (NYSE: BXG) ('Bluegreen Vacations' or the 'Company') announced today that Shawn B. Pearson has resigned as President and Chief Executive Officer ('CEO') effective December 31, 2019 for family reasons. Alan B. Levan will succeed Mr. Pearson as President and CEO of the Company following Mr. Pearson's separation. Mr. Levan has served as Chairman of Bluegreen Vacations for over 15 years. Mr. Levan also serves as Chairman, CEO and President of BBX Capital Corporation (NYSE: BBX) ('BBX Capital'). BBX Capital, indirectly through its wholly-owned subsidiary, Woodbridge Holdings Corporation, owns approximately 90% of the Company's outstanding common stock.

'I would like to thank Shawn Pearson for his years of service to the Company and successfully leading our initial public offering in 2017 and for building a strong management team. I wish Shawn and his family well,' said Mr. Levan.

The Company also announced that Raymond S. Lopez was appointed Chief Operating Officer, in addition to his current role as Executive Vice President, Chief Financial Officer & Treasurer. Mr. Lopez will also continue to serve as Executive Vice President and Chief Financial Officer of BBX Capital Corporation. Mr. Lopez previously served as Chief Accounting Officer of the Company from 2005 through 2015 and as Controller from 2004 to 2005. Mr. Lopez is a Certified Public Accountant, is currently serving as the Co-Chairperson of the ARDA Finance Committee and was named 'Chief Financial Officer of the Year' by the South Florida Business Journal in 2018.

'Ray has a thorough understanding of our business and has demonstrated his ability to successfully lead management teams to achieving the Company's goals. I look forward to continuing to work with Ray in his new role,' said Mr. Levan.

About Bluegreen Vacations Corporation Bluegreen Vacations Corporation (NYSE: BXG) is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, vacation ownership plan with approximately 219,000 owners, 69 Club and Club Associate Resorts and access to more than 11,350 other hotels and resorts through partnerships and exchange networks as of September 30, 2019. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is approximately 90% owned by BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), a diversified holding company. For further information, visit www.BluegreenVacations.com.

About BBX Capital Corporation

BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), is a Florida-based diversified holding company whose activities include its approximate 90% ownership interest in Bluegreen Vacations Corporation (NYSE: BXG) as well as its real estate and middle market divisions. For additional information, please visit www.BBXCapital.com.

Bluegreen Vacations Media Contact:

Nikki Sacks, 203-682-8263

or

Evelyn Infurna, 203-682-8265

Email: bluegreenvac@icrinc.com

Source: BBX Capital Corporation

Released November 25, 2019

(C) 2019 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
BBX CAPITAL CORPORATION -14.22% 1.81 Delayed Quote.-55.77%
BLUEGREEN VACATIONS CORPORATION -8.28% 4.32 Delayed Quote.-58.22%
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Financials (USD)
Sales 2020 918 M
EBIT 2020 72,5 M
Net income 2020 12,6 M
Finance 2020 135 M
Yield 2020 28,4%
P/E ratio 2020 15,6x
P/E ratio 2021 7,54x
EV / Sales2020 0,09x
EV / Sales2021 -0,02x
Capitalization 214 M
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Mean consensus BUY
Number of Analysts 2
Average target price 8,00  $
Last Close Price 2,11  $
Spread / Highest target 279%
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Managers
NameTitle
Alan B. Levan Chairman & Chief Executive Officer
Jarett S. Levan President & Director
Raymond S. Lopez Chief Financial Officer & Executive Vice President
John E. Abdo Vice Chairman
Seth M. Wise Director & Executive Vice President
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