Tejon Ranch Announces Final Voting Results of 2025 Annual Meeting of Shareholders
Tejon Ranch Co. (NYSE:TRC) announced the final voting results from its 2025 Annual Meeting of Shareholders. Shareholders voted to re-elect nine current board members and elect new director Andrew Dakos from Bulldog Investors to the Company's Board of Directors. The election results showed strong shareholder support for the company's current direction and long-term strategy in real estate development and agribusiness. Michael Winer, who served on the board for 24 years, will be departing. Notably, new board member Dakos stated that he believes Tejon Ranch's stock significantly undervalues its assets and expressed commitment to maximizing shareholder value.
Tejon Ranch Co. (NYSE:TRC) ha annunciato i risultati finali delle votazioni durante l'Assemblea Annuale degli Azionisti del 2025. Gli azionisti hanno votato per la rielezione di nove membri attuali del consiglio e per l'elezione di Andrew Dakos, nuovo direttore proveniente da Bulldog Investors, nel Consiglio di Amministrazione della società. I risultati delle elezioni hanno evidenziato un forte sostegno degli azionisti verso l'attuale direzione e la strategia a lungo termine dell'azienda nello sviluppo immobiliare e nell'agrobusiness. Michael Winer, che ha fatto parte del consiglio per 24 anni, lascerà il suo incarico. Da segnalare che il nuovo membro del consiglio, Dakos, ha dichiarato di ritenere che il valore delle azioni di Tejon Ranch sottovaluti significativamente i suoi asset e si è impegnato a massimizzare il valore per gli azionisti.
Tejon Ranch Co. (NYSE:TRC) anunció los resultados finales de la votación en su Reunión Anual de Accionistas 2025. Los accionistas votaron para reelegir a nueve miembros actuales del consejo y elegir a Andrew Dakos, nuevo director proveniente de Bulldog Investors, para la Junta Directiva de la empresa. Los resultados de la elección mostraron un fuerte apoyo de los accionistas hacia la dirección actual y la estrategia a largo plazo de la compañía en desarrollo inmobiliario y agronegocios. Michael Winer, quien formó parte del consejo durante 24 años, se retirará. Cabe destacar que el nuevo miembro del consejo, Dakos, afirmó que cree que las acciones de Tejon Ranch subvaloran significativamente sus activos y expresó su compromiso de maximizar el valor para los accionistas.
Tejon Ranch Co. (NYSE:TRC)는 2025년 주주총회 최종 투표 결과를 발표했습니다. 주주들은 현재 이사회 멤버 9명을 재선출하고, Bulldog Investors 출신의 신임 이사 Andrew Dakos를 회사 이사회에 선임하는 데 찬성했습니다. 이번 선거 결과는 부동산 개발 및 농업 비즈니스 분야에서 회사의 현재 방향과 장기 전략에 대한 주주들의 강력한 지지를 보여주었습니다. 24년간 이사회에서 활동한 Michael Winer는 퇴임할 예정입니다. 특히 신임 이사 Dakos는 Tejon Ranch의 주가가 자산 가치를 크게 저평가하고 있다고 믿으며, 주주 가치를 극대화하는 데 전념하겠다고 밝혔습니다.
Tejon Ranch Co. (NYSE:TRC) a annoncé les résultats finaux du vote lors de son Assemblée Générale Annuelle des Actionnaires 2025. Les actionnaires ont voté pour la réélection de neuf membres actuels du conseil et l’élection de Andrew Dakos, nouveau directeur issu de Bulldog Investors, au conseil d’administration de la société. Les résultats des élections ont montré un fort soutien des actionnaires envers la direction actuelle et la stratégie à long terme de l’entreprise dans le développement immobilier et l’agrobusiness. Michael Winer, qui siégeait au conseil depuis 24 ans, quittera ses fonctions. Notamment, le nouveau membre du conseil Dakos a déclaré qu’il estime que l’action de Tejon Ranch sous-évalue largement ses actifs et s’est engagé à maximiser la valeur pour les actionnaires.
Tejon Ranch Co. (NYSE:TRC) gab die endgültigen Abstimmungsergebnisse seiner Hauptversammlung 2025 bekannt. Die Aktionäre stimmten für die Wiederwahl von neun aktuellen Vorstandsmitgliedern und die Wahl des neuen Direktors Andrew Dakos von Bulldog Investors in den Vorstand des Unternehmens. Die Wahlergebnisse zeigten eine starke Unterstützung der Aktionäre für die aktuelle Ausrichtung und die langfristige Strategie des Unternehmens im Bereich Immobilienentwicklung und Agrarwirtschaft. Michael Winer, der 24 Jahre im Vorstand tätig war, wird ausscheiden. Bemerkenswert ist, dass das neue Vorstandsmitglied Dakos erklärte, er halte die Aktie von Tejon Ranch für deutlich unterbewertet und bekräftigte sein Engagement, den Aktionärswert zu maximieren.
- Strong shareholder support demonstrated through overwhelming re-election of current board members
- Addition of Andrew Dakos from Bulldog Investors brings new perspective on maximizing shareholder value
- Company maintains strategic focus on land entitlement and master-planned community development
- Current stock price potentially undervalues company assets according to new board member
- Departure of experienced board member Michael Winer after 24 years of service
TEJON RANCH, Calif., May 19, 2025 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (NYSE:TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today announced that, based on the final vote count certified by the independent election inspector following the Company’s 2025 Annual Meeting of Shareholders, Tejon shareholders have voted to re-elect Steven Betts, Gregory Bielli, Denise Gammon, Anthony Leggio, Jeffrey McCall, Norman Metcalfe, Eric Speron, Daniel Tisch and Kenneth Yee and to elect Andrew Dakos to the Company’s Board of Directors.
Tejon issued the following statement:
We are grateful for the strong support we received from Tejon shareholders throughout this process. Their votes reaffirmed the depth of experience, strategic discipline and long-term vision on our Board – re-electing the vast majority of Tejon directors with overwhelming support. We remain committed to building on our track record of successful land entitlement and master-planned community development.
As part of this process, we engaged with a broad cross-section of our shareholder base and heard a wide range of perspectives. We take that feedback seriously. The result of this election reflects confidence in our direction, but also a responsibility to continue earning that trust by executing with discipline and communicating with clarity.
We welcome Andrew Dakos to the Board and look forward to working together. This is a pivotal moment for Tejon Ranch Company. These results reflect both shareholder confidence in our long-term strategy and a shared desire to unlock the full potential of our assets.
We thank Michael Winer for his contributions to Tejon. In his 24 years on the Board, Mr. Winer has played a meaningful role in the oversight of our Company, adding critical insights and expertise to our Board throughout his tenure, and we wish him the best as he departs the Board.
Upon his election to the Tejon Ranch Company Board of Directors, Andrew Dakos, Principal & Partner with Bulldog Investors said: “I believe Tejon Ranch’s stock substantially undervalues its assets and I look forward to working with the board and management team to maximize value for all shareholders.”
The Company is filing the final voting results, as tabulated and certified by the independent Inspector of Elections, on a Form 8-K with the U.S. Securities and Exchange Commission.
About Tejon Ranch Co. (NYSE: TRC)
Tejon Ranch Co. is a diversified real estate development and agribusiness Company whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. For more information on the Company, please go to www.tejonranch.com.
Forward Looking Statements
This communication contains forward-looking statements about future events and circumstances. Generally speaking, any statement not based upon historical fact is a forward-looking statement. In particular, statements regarding Tejon’s plans, strategies, prospects and expectations regarding its business and industry are forward-looking statements. They reflect Tejon’s expectations, are not guarantees of performance and speak only as of the date hereof. Except as required by law, Tejon does not undertake to update such forward-looking statements. You should not rely unduly on forward-looking statements. Tejon’s business results are subject to a variety of risks, including business conditions and the general economy, future commodity prices and yields, market forces, the ability to obtain various governmental entitlements and permits, interest rates and other risks inherent in real estate and agriculture businesses. For further information on factors that could affect Tejon’s business results, refer to Tejon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and subsequent filings with the U.S. Securities and Exchange Commission.
Contacts:
Investors
Nicholas Ortiz
Tejon Ranch Co., Senior Vice President, Corporate Communications & Public Affairs
(661) 663-4212
nortiz@tejonranch.com
Media
Eric Brielmann / Jed Repko
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
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