With Ties to the Successes of Hilton Head, Sawgrass, Disney and
St. Joe Company,
Rummell Will Also Head the NicklausMilstein Fund to Pursue Real
Estate Investment Opportunities
Peter Rummell, whose leadership over the past decade helped transform
The St. Joe Company (NYSE:JOE) into one of the country’s
most dynamic real estate companies, now brings his development
experience and brand-building expertise to the Nicklaus Companies in his
new role as Chief Executive Officer.
The appointment was announced today by Nicklaus Companies Founder,
Chairman and past CEO Jack Nicklaus, who lauded Rummell’s
experience and the vision he possesses to help guide the global golf and
licensing company into the future.
“Peter Rummell is a man who understands
excellence, and has led organizations to excellence throughout his
career,” Nicklaus said. “We
are extremely fortunate to have Peter join our organization and at such
an exciting time in the evolution of our company. A year ago, we found a
like-minded partner in New York Private Bank & Trust to help us grow our
brand and our branded businesses. The addition of Peter fits perfectly
with our strategy to build on the success we have enjoyed, and to
realize our full potential so the business will continue to grow now and
beyond my lifetime.”
“The Nicklaus Companies has seen terrific
growth over recent years, and Jack is as engaged and as passionate as he
has been at any time during his career,” said
Howard Milstein, chairman and CEO of New York Private Bank & Trust. “It
was because of his commitment to building the business and the brand
that we entered into this strategic partnership a year ago. The addition
of Peter is a move that works in concert with our strategic business
focus. He has a wealth of experience in our company’s
core businesses, which are golf course design and branding.”
Rummell, 62, who already has a home in Jupiter Island but will also
retain his Jacksonville residence, will begin his duties in mid-August
as CEO of Nicklaus Companies LLC, which was created last June when New
York Private Bank & Trust became a long-term partner with the Nicklaus
family. It was actually representatives of New York Private Bank & Trust
who, during a search for CEO candidates, sought the counsel of Rummell
for recommendations. Rummell, who retired at the end of May as CEO for
The St. Joe Company, did not need to look far for a motivated candidate.
“When I retired as CEO of The St. Joe
Company, I had no intentions of ever taking another CEO position,”
Rummell explained. “But Jack’s
opportunity represents a junction of golf, real estate and branding—all
areas I am very familiar with—that is just
too compelling. The company is the perfect size and the worldwide future
is unparalleled. I flunked retirement!”
In addition to serving as CEO of the Nicklaus Companies, Peter Rummell
completes the executive structure of the NicklausMilstein Fund, where he
will also serve as CEO.
