Patriot Transportation Holding, Inc. Elects New Board Member And Announces Other Corporate Governance Changes
05 Gennaio 2004 - 9:40PM
PR Newswire (US)
Patriot Transportation Holding, Inc. Elects New Board Member And
Announces Other Corporate Governance Changes JACKSONVILLE, Fla.,
Jan. 5 /PRNewswire-FirstCall/ -- Patriot Transportation Holding,
Inc. announced today that Charles E. Commander III has been elected
to its Board of Directors. Mr. Commander is a partner in the
Jacksonville office of the law firm of Foley & Lardner. For
more than 25 years, he has counseled corporate, financial and real
estate clients in various business law matters and has been
recognized in Best Lawyers in America for practice excellence in
real estate law. Mr. Commander also serves as a director of
Alliance Capital Partners, Inc., a financial services holding
company. Commenting on Mr. Commander's election to the Board,
Chairman Edward L. Baker said: "Charles Commander is an outstanding
leader and counselor who brings to our Board considerable
experience and expertise and sound independent judgment." The
Company also announced other changes in its Board to comply with
requirements under the Sarbanes-Oxley Act and the recently adopted
NASDAQ listing standards. John E. Anderson, David H. deVilliers,
Jr. and Francis X. Knott have tendered their resignations from the
Board of Directors effective January 1, 2004. Mr. Anderson will
continue to serve as President and Chief Executive Officer, and Mr.
deVilliers will continue to serve as Vice President of the Company
and as President of the Company's Real Estate Group. These changes
and the appointment of Mr. Commander assure that the Board has a
majority of independent directors as required by the Sarbanes-Oxley
Act and NASDAQ. Patriot Transportation Holding, Inc. is engaged in
the transportation and real estate businesses. The Company's
transportation business is conducted through two wholly owned
subsidiaries. Florida Rock & Tank Lines, Inc. is a Southeastern
transportation company concentrating in the hauling by motor
carrier of petroleum products and other liquid and dry bulk
commodities. SunBelt Transport, Inc. serves the flatbed portion of
the trucking industry in the Southeast, Midwest and Atlantic
states, hauling primarily construction materials. The Company's
real estate group, through subsidiaries, acquires, constructs,
leases, operates and manages land and buildings to generate both
current cash flows and long-term capital appreciation. The real
estate group also owns real estate which is leased under mining
royalty agreements or held for investment. DATASOURCE: Patriot
Transportation Holding, Inc. CONTACT: John E. Anderson, Chief
Executive Officer, Patriot Transportation Holding, +1-904-396-5733,
ext. 3215
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