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The Honolulu Advertiser
Posted on: Wednesday, May 21, 2003

Maui L&P names acting chief

By John Duchemin
Advertiser Staff Writer

Donald Young will become acting president and chief executive officer of Maui conglomerate Maui Land & Pineapple Co., the company announced yesterday.

Young will replace chief executive Gary L. Gifford, who plans to resign on Tuesday. Young is now president of Kapalua Land Co., a Maui Land & Pineapple subsidiary.

In March, Maui Land & Pineapple announced Gifford's intent to step down after the company lost $5.7 million in 2002. The company has retained an executive search firm to find a permanent president.

Maui Land & Pineapple consists of real estate, retail and pineapple operations.

Kapalua Land Co., the real estate division, has generally been profitable since the early 1990s, but the company's other operations have lost millions in recent years.

The company seeks to sell its interest in Queen Ka'ahumanu Center, the Kahului shopping mall that was a joint venture with the state pension fund. And Maui Pineapple, which runs the state's last pineapple cannery, has been hurt by low prices and overseas competition.