Peter S. Rummell Named CEO of Nicklaus Companies
The St. Joe Company (NYSE:JOE) today announced the selection of Hugh M.
Durden as chairman of its board of directors. He replaces Peter S.
Rummell, who is departing JOE to become CEO of the Nicklaus Companies
LLC, the privately held global company founded by golf legend Jack
Nicklaus, engaged in golf course design, licensing and real estate
development. Rummell will also be CEO of the NicklausMilstein Fund.
“I join the rest of the board of directors in
extending our sincere thanks and congratulations to Peter as he takes on
his new global role,” said Durden, who has
served as a member of JOE’s board since 2000
and its lead director since 2003. “Peter’s
legacy with JOE in Northwest Florida provides a solid foundation for
growth and change in the region for generations to come. I look forward
to working with Britt Greene, JOE’s CEO, and a
very talented JOE team as they continue to build on JOE's role as a
premier regional place maker with some of the most important real estate
assets in Florida. JOE’s Florida is being
positioned and enhanced for the return of the market that will provide
shareholders with significant value creation opportunities.”
About JOE
The St. Joe Company (NYSE:JOE), a publicly held company based in
Jacksonville, is one of Florida's largest real estate development
companies. We are primarily engaged in real estate development and
sales, with significant interests in timber. Our mission is to create
places that inspire people and make JOE's Florida an even better place
to live, work and play. We're no ordinary JOE.
More information about JOE can be found at our web site at www.joe.com.
Forward-Looking Statements
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, including statements about our
beliefs, plans, goals, expectations and intentions. Forward-looking
statements involve risk and uncertainty, and there can be no assurance
that the results described in such statements will be realized. Such
statements are based on our current expectations and we undertake no
obligation to publicly update or reissue any forward-looking statements.
Risk factors that may cause the actual results to differ are described
in this press release and in various documents we have filed with the
U.S. Securities and Exchange Commission, including our Annual Report on
Form 10-K for the year ended December 31, 2007, and our Quarterly
Reports on Form 10-Q.
© 2008, The St. Joe Company, "St.
Joe," "JOE," and the "Taking Flight" design are service marks of The St.
Joe Company.
The St. Joe Company, Jacksonville
Jerry M. Ray, 904-301-4430
jray@joe.com
or
David
Childers, 904-301-4302
dchilders@joe.com
