X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LA BELLE, FL-The driving force behind Alico Inc. has returned from a leave of absence that lasted almost two months.

Officials at the La Belle, FL-based agribusiness and land-holding company say Ben Hill Griffin III will resume all prior duties as chairman and chief executive officer.

Neither the company nor the 58-year-old CEO offered any details about the temporary leave of absence in a prepared statement.

Announcement of Griffin’s return had no impact on the company’s publicly traded common stock, which closed unchanged Friday at $28.99 on volume of 2,300. When the company announced the leave in June, shares in the company closed up $1.38 each on light volume.

Shares in Alico are trading near the issue’s 52-week high of $33.34. The issue has traded in the high $20s ever since it closed on June 29 at $32.06 on volume of 323,000. During Griffin’s leave of absence, the company disclosed its net income and total revenue dropped during the nine months ended May 31.

The company reported a net gain of $5.1 million, or 72 cents a share, on total revenue of $48.9 million for the nine months, compared with net of $11.3 million, or $1.61 cents a share, on total revenue of $53.1 million for the same period last year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.