Farmland Partners Inc. Appoints Luca Fabbri as President and James Gilligan as Chief Financial Officer
Farmland Partners Inc. (NYSE: FPI) has appointed Luca Fabbri as President, effective immediately, expanding his role from Chief Financial Officer. Fabbri will oversee portfolio management and growth initiatives. James Gilligan is now Chief Financial Officer and Treasurer, responsible for finance, accounting, and reporting functions. The company's leadership transition aims to accelerate growth, with a management team focused on driving revenue and portfolio expansion. Farmland Partners operates approximately 166,000 acres across 16 states, owning and managing farmland assets.
- Luca Fabbri's appointment as President brings continuity and leadership experience.
- James Gilligan's track record in finance is expected to drive growth and enhance financial management.
- None.
DENVER, Oct. 11, 2021 /PRNewswire/ -- Farmland Partners Inc. (NYSE: FPI) ("Farmland Partners" or the "Company") today announced the appointment of Luca Fabbri as President of the Company, effective immediately. Mr. Fabbri's responsibilities will include portfolio management, new growth initiatives, capital markets and investor relations, and he will continue to report directly to the Chairman and Chief Executive Officer. Prior to his appointment as President, Mr. Fabbri served as Chief Financial Officer and Treasurer of the Company since its inception. Prior to co-founding Farmland Partners, Mr. Fabbri spent over 20 years as an entrepreneur and executive in finance, technology and agriculture.
"Luca helped found Farmland Partners and has been instrumental in helping grow the Company in his role as Chief Financial Officer. As President he will focus on accelerating that growth," commented Chairman and Chief Executive Officer Paul Pittman.
In connection with Mr. Fabbri's appointment as President, the Company announced that it has appointed James Gilligan as Chief Financial Officer and Treasurer, effective immediately. Mr. Gilligan's responsibilities will include overseeing the Company's finance, accounting, treasury, financial planning, and SEC reporting functions. Mr. Gilligan will report directly to the Chairman and Chief Executive Officer. Mr. Gilligan joined Farmland Partners in 2021 as a Consultant, and later as a Vice President in the finance department, after eight years with Equity International, the private equity firm founded by Sam Zell. Mr. Gilligan served in various roles at Equity International, including Chief Financial Officer, Chief Compliance Officer, and Senior Vice President. Prior to Equity International, Mr. Gilligan was an investment professional for Equity Group Investments, the Chicago-based private investment firm founded and led by Sam Zell, and an investment banker for Merrill Lynch & Co.
"James brings a strong track record of driving results and accelerating growth, and we are thrilled to welcome him to our executive team. He complements our strong performance-oriented culture, and we believe his impressive reputation for execution and achieving results makes him the right choice to lead our finance function," said Paul Pittman. "With Luca's appointment as President, and James taking on the role of CFO, we have a strong management team in place to continue the execution of our strategy to drive revenue growth and the continued expansion of our portfolio."
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland, makes loans to farmers secured by farm real estate, and manages farmland for third parties. As of the date of this release, the Company owns and/or manages approximately 166,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. We have approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" or similar expressions or their negatives, as well as statements in future tense. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and our actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, the Company's ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, availability of qualified personnel, changes in the Company's industry, interest rates or the general economy, adverse developments related to crop yields or crop prices, the degree and nature of the Company's competition, the timing, price or amount of repurchases, if any, under the Company's share repurchase program, the ability to consummate acquisitions or dispositions under contract and the other factors described in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, and the Company's other filings with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
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SOURCE Farmland Partners Inc.
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