<SEC-DOCUMENT>0000003453-11-000008.txt : 20110303
<SEC-HEADER>0000003453-11-000008.hdr.sgml : 20110303
<ACCEPTANCE-DATETIME>20110303164242
ACCESSION NUMBER:		0000003453-11-000008
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110228
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110303
DATE AS OF CHANGE:		20110303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALEXANDER & BALDWIN INC
		CENTRAL INDEX KEY:			0000003453
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				990032630
		STATE OF INCORPORATION:			HI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34187
		FILM NUMBER:		11660776

	BUSINESS ADDRESS:	
		STREET 1:		822 BISHOP STREET
		STREET 2:		PO BOX 3440
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96801
		BUSINESS PHONE:		8085256611

	MAIL ADDRESS:	
		STREET 1:		822 BISHOP STREET
		STREET 2:		PO BOX 3440
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96801
</SEC-HEADER>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">CURRENT REPORT</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Securities Exchange Act of 1934</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported):&#160;&#160;February 28, 2011</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">ALEXANDER &amp; BALDWIN, INC.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">822 Bishop Street, P. O. Box 3440</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Address of principal executive office and zip code)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Check the appropriate box below if the Form&#160;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On February 28, 2011, Alexander &amp; Baldwin, Inc. (the &#8220;Company&#8221;) announced that Norbert M. Buelsing, President of A&amp;B Properties, Inc., will be retiring.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, Christopher J. Benjamin, Senior Vice President, Chief Financial Officer and Treasurer of the Company and General Manager of the Company&#8217;s Hawaiian Commercial &amp; Sugar Company division, will be promoted to President, A&amp;B Land Group, which includes A&amp;B Properties, Inc. and the Company&#8217;s agricultural businesses.&#160;&#160;Mr. Benjamin, age 47, has served as Senior Vice President since July 1, 2005, Chief Financial Officer since February 9, 2004, and Treasurer since May 1, 2006.&#160;&#160;He has served as General Manager of Hawaiian Commercial &amp; Sugar Company since March 9, 2009.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has initiated a search for a new chief financial officer.&#160;&#160;Mr. Buelsing&#8217;s retirement and Mr. Benjamin&#8217;s appointment to his new role will be effective upon the hiring of a new chief financial officer.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A copy of the Company&#8217;s press release relating to this management transition is attached hereto as Exhibit 99.1.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 9.01 Financial Statements and Exhibits.</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Press Release announcing management changes issued on February 28, 2011.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 187pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">SIGNATURE</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date:&#160;&#160;February 28, 2011</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 187pt"></font>ALEXANDER &amp; BALDWIN, INC.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 187pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Christopher J. Benjamin</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">HONOLULU&#8212;(February 28, 2011)&#8212;Alexander &amp; Baldwin, Inc. President and CEO Stanley M. Kuriyama today announced management changes that will facilitate a smooth transition of leadership upon the planned retirement of Norbert M. Buelsing, president of A&amp;B Properties, Inc., the real estate subsidiary of Alexander &amp; Baldwin, Inc. (NYSE: ALEX) (A&amp;B).&#160;&#160;Buelsing has served as president of A&amp;B Properties since October 2008, and first joined A&amp;B in 1990.&#160;&#160;He has not yet set a firm date for his retirement and has agreed to stay on while other transitions, described below, are implemented.</font></div>
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<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Kuriyama announced the following organizational changes:</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Christopher J. Benjamin, currently senior vice president, chief financial officer and treasurer of A&amp;B and general manager of Hawaiian Commercial &amp; Sugar Company (HC&amp;S), will be promoted to president, A&amp;B Land Group, reporting to Kuriyama.&#160;&#160;The Land Group includes A&amp;B Properties and the Company&#8217;s various agricultural businesses.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Rick W. Volner Jr., currently senior vice president of agricultural operations at HC&amp;S, will be promoted to general manager of HC&amp;S, and will continue to report to Benjamin.&#160;&#160;&#160;This promotion will be effective April 1, 2011.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">To facilitate the replacement of Benjamin as A&amp;B&#8217;s Chief Financial Officer, the Company has initiated a search with Russell Reynolds Associates, a global executive search firm.&#160;&#160;Buelsing&#8217;s retirement and Benjamin&#8217;s appointment to his new role will be effective upon the hiring of a CFO.</font></div>
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<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">"Norb has been an invaluable contributor to A&amp;B over the past 20 years, and deserves credit for growing the Company&#8217;s outstanding commercial portfolio from just 16 properties in 1990 to 46 properties today, and building tremendous value for our shareholders in the process,&#8221; Kuriyama said.&#160;&#160;&#8220;Under his leadership, A&amp;B Properties has weathered the recent economic cycle remarkably well, and has positioned itself for growth in the recovering economy.&#160;&#160;I appreciate his willingness to facilitate a smooth transition over the next several months before his well-deserved retirement.&#8221;</font></div>

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<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#8220;Chris Benjamin has served the company extremely well as our chief financial officer, and his success in the remarkable turnaround of HC&amp;S this past year has led to this major expansion of his operating responsibilities,&#8221; Kuriyama continued.&#160;&#160;&#8220;His effective leadership skills, strategic capabilities and knowledge of our agricultural businesses will allow the company to continue to exercise responsible stewardship over, and value creation from, our lands and I have no doubt he will be able to build upon the success we have achieved in our real estate business.&#160;&#160;Chris will also remain in charge of the company&#8217;s evaluation of renewable energy opportunities, which are of critical strategic importance to the future of HC&amp;S.&#8221;</font></div>

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<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Benjamin commented on Volner&#8217;s promotion: &#8220;Rick has been an integral part of the transformation that has taken place at HC&amp;S, leading the agricultural team that increased sugar production by 35 percent from 2009 to 2010. As a Maui native, he combines a profound understanding of and respect for the local community with his deep knowledge of sugar farming and milling operations.&#160;&#160;Rick&#8217;s family has had a long history of contributions to HC&amp;S.&#160;&#160;Rick&#8217;s great grandparents worked for Maui Agricultural Company, a predecessor of HC&amp;S, and both his grandparents worked at HC&amp;S, where his grandmother retired after 46 years of service.&#160;&#160;I am thrilled that we are able to recognize Rick by promoting him to the position of general manager of HC&amp;S.&#8221;</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Norbert M. Buelsing joined A&amp;B-Hawaii, Inc., which then was A&amp;B's property management and development and food products subsidiary, in 1990 as vice president and was promoted to senior vice president a year later.&#160;&#160;In 1997, he was named executive vice president of A&amp;B Properties, Inc.&#160;&#160;In 2008 he was named president of A&amp;B Properties.&#160;&#160;Before joining A&amp;B he was executive vice president and chief operating officer for Chaney Brooks &amp; Company, a Hawaii real estate firm, where he enjoyed a nine-year career.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Christopher J. Benjamin joined Alexander &amp; Baldwin in 2001 as director of corporate development and was promoted to vice president in 2003.&#160;&#160;In 2004, he was named chief financial officer and in 2005 was promoted to senior vice president.&#160;&#160;In 2006 he was named treasurer of Alexander &amp; Baldwin.&#160;&#160;In 2009, Benjamin was named general manager of HC&amp;S, and in 2010 took on responsibility for overseeing A&amp;B&#8217;s other agribusiness operations, including Kauai Coffee Company.&#160;&#160;Prior to joining A&amp;B, Benjamin had worked for General Motors Corporation, Sony Corporation, Booz-Allen &amp; Hamilton and The Queen&#8217;s Health Systems.&#160;&#160;Benjamin holds a bachelor&#8217;s degree in economics from the University of Michigan and a master&#8217;s degree in business administration from Harvard Business School.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Rick W. Volner, Jr. joined HC&amp;S in 1997 as an agricultural engineer and has progressed through a series of roles, including farm manager, vice president &#8211; farm operations, and most recently senior vice president agricultural operations.&#160;&#160;Prior to joining HC&amp;S, Volner worked for the Honolulu Board of Water Supply for four years.&#160;&#160;Volner holds a bachelor&#8217;s degree in mechanical engineering from the University of Hawaii at Manoa.</font></div>
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<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Alexander &amp; Baldwin, Inc., headquartered in Honolulu, Hawaii, is engaged in ocean transportation and logistics services through its subsidiaries, Matson Navigation Company, Inc. and Matson Integrated Logistics, Inc.; in real estate, through A&amp;B Properties, Inc.; and in agribusiness, through Hawaiian Commercial &amp; Sugar Company and Kauai Coffee Company, Inc. Additional information about A&amp;B may be found at its web site: <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.alexanderbaldwin.com</font></font></div>

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<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Statements in this press release that are not historical facts are "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. Factors that could cause actual results to differ materially from those contemplated in the statements include, without limitation, overall economic conditions, failure to satisfy the closing conditions set forth in the definitive agreement and other risks associated generally with acquisitions and developments. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with our Annual Report on Form 10-K and our other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release.</font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
