Cole, who was raised in Hawai'i, has been chief executive at database software company Ashton-Tate, online publishing software firm NaviSoft Inc. and president of AOL's Internet Services Co. and New Enterprises Group.

Currently, Cole is board chairman of Sunnyside Farms LLC, a 500-acre organic farm in Virginia, and the Twin Farms resort in Vermont.

Cole also is a director of PBS, Island Press, Sesame Workshop and the American Farmland Trust, and a past director for The Nature Conservancy and the World Wildlife Fund.

"For the past 25 years, he has demonstrated the ability to lead a variety of diverse businesses," said Maui Land & Pine chairman David Heenan. "His ongoing contributions to the business and nonprofit communities have earned him widespread respect. He will be a tremendous asset for our state and, most especially, the people of Maui."

Cole will take over from Donald Young, the president of Maui Land & Pine subsidiary Kapalua Land Co. who has served as acting president and chief executive officer since May following the resignation of Gary Gifford.