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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 22, 2006
ALEXANDER & BALDWIN, INC.
(Exact name of registrant as specified in its charter)
Hawaii 0-565 99-0032630
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
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of incorporation) Identification No.)
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822 Bishop Street, P. O. Box 3440
Honolulu, Hawaii 96801
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(Address of principal executive office and zip code)
(808) 525-6611
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(Registrant's telephone number, including area code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
_
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
_
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
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|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
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|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Principal Officers; Election of
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Directors; Appointment of Principal Officers.
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On June 22, 2006, the Board of Directors of Alexander & Baldwin, Inc.
(the "Company") expanded the size of the Board from eight to nine members, and
appointed W. Blake Baird as a member of the Board of Directors and the Audit
Committee, effective as of that date. Other than as described in the subsection
titled "Compensation of Directors" of the Company's 2006 Proxy Statement, there
is no arrangement or understanding pursuant to which Mr. Baird was appointed as
a director, and there are no related party transactions between the Company and
Mr. Baird.
A press release announcing the appointment of Mr. Baird was issued on
June 22, 2006, a copy of which is attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
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(d) Exhibits
99.1 Press release dated June 22, 2006, announcing the
appointment of W. Blake Baird to the Board of Directors
of Alexander & Baldwin, Inc.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: June 26, 2006
ALEXANDER & BALDWIN, INC.
/s/ Christopher J. Benjamin
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Christopher J. Benjamin
Senior Vice President,
Chief Financial Officer, and Treasurer
FOR MORE INFORMATION: FOR IMMEDIATE RELEASE
Meredith J. Ching, 808-525-6669 or mching@abinc.com
W. BLAKE BAIRD JOINS ALEXANDER & BALDWIN BOARD
HONOLULU - (June 22, 2006) - W. Blake Baird, a recognized leader in the
real estate field, was today appointed to the board of directors of Alexander &
Baldwin, Inc. (NASDAQ: ALEX), announced A&B Chairman of the Board and Chief
Executive Officer W. Allen Doane.
"Blake is an accomplished and knowledgeable executive with extensive
experience in real estate and finance," said Doane. "His focus on global trade
also will benefit A&B as our transportation businesses expand internationally."
Baird, 45, is president and a director of AMB Property Corporation
(NYSE:AMB), headquartered in San Francisco, California, which acquires, develops
and operates industrial property throughout North America, Europe and Asia. He
joined AMB in 1999 as managing director and chief investment officer, and was
promoted to president in January 2000. AMB owns more than 1,000 properties
comprising approximately 118 million square feet of leasable space in eleven
countries.
Prior to joining AMB, Baird was a managing director at Morgan Stanley &
Co., where he was the head of real estate investment banking for the Western
United States. He spent 15 years at Morgan Stanley and Dean Witter, the last 11
focusing on real estate.
Following the April retirements of A&B board members Charles M.
Stockholm and Carson R. McKissick, Baird becomes the ninth member of A&B's
board. He also was appointed to serve on the board of Matson Navigation Company,
Inc., A&B's transportation subsidiary.
Baird earned a master's degree in business administration from New York
University, and two bachelor's degrees - both magna cum laude - in economics
from the Wharton School, and in history from the College of Arts and Sciences at
the University of Pennsylvania.
Baird is a member of Young Presidents' Organization, and is a former
member of the Board of Governors of NAREIT (National Association of Real Estate
Investment Trusts).
Alexander & Baldwin, Inc., a diversified corporation headquartered in
Honolulu; its major lines of business are ocean transportation (Matson
Navigation Company, Inc. and Matson Integrated Logistics, Inc.); real estate
(A&B Properties, Inc.); and food products (Hawaiian Commercial & Sugar Company,
Kauai Coffee Company, Inc.). Additional information about A&B may be found at
its web site: www.alexanderbaldwin.com.
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NOTE TO EDITOR: For a digital image of Mr. Baird, email lhowe@abinc.com