Tejon Ranch Appoints Matthew Walker as New CEO

By Tamara Parker • Tuesday, February 11 15:20 • Permanent Link

Tejon Ranch Company (NYSE: TRC) has announced the appointment of Matthew (Matt) Walker as its new President and CEO, succeeding Gregory S. Bielli, who is set to retire on March 31, 2025. Walker, with a 24-year career at Los Angeles-based real estate firm Lowe Enterprises, brings with him extensive experience in resort and residential development, capital development, and joint venture formation. His appointment comes after a nationwide search led by an ad-hoc committee of the company's board of directors.

The company's outgoing President & CEO, Bielli, will continue to serve as an executive advisor and as a director on the Tejon Ranch board. During his tenure, the company achieved significant milestones, including the development and opening of the Outlets at Tejon, expansion of the Tejon Ranch Commerce Center, and securing entitlement approvals for the Grapevine, Mountain Village, and Centennial master planned communities.

Tejon Ranch Company, known for its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield, is well-positioned for future growth. The impending completion of the first units of the company’s multifamily development, Terra Vista, and the development of its three additional master planned communities, are expected to guide the company's future development.

Walker expressed his excitement about joining Tejon Ranch Company, highlighting the company's potential to provide jobs, housing, and economic development opportunities to Southern California. Norman Metcalfe, Chairman of the Board, welcomed Walker's appointment, emphasizing his unique development background and skills at creating immersive guest and consumer experiences.

As the company prepares for this leadership transition, investors and stakeholders will be keen to see how Walker's vision and experience will drive the company's growth and unlock value for shareholders in the coming quarters. The market has reacted to these announcements by moving the company's shares -3.1% to a price of $15.87. For the full picture, make sure to review Tejon Ranch's 8-K report.

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