Sep
7
A&B explains its management shifts
Filed Under Sunrise on KGMB9
Cathy Cruz-George wrote an interesting article in the new print edition of Pacific Business News — www.pacificbusinessnews.com — in which Allen Doane explains what he’s up to with all the promotions at Alexander & Baldwin Inc.
Stan Kuriyama from A&B Properties division takes over as president of the whole company — Doane remains chairman — while at the Matson division, Jim Andrasick hands control to his deputy except for the newer subsidiaries.
I thought it was just orderly transition planning, because Walter Dods is on the A&B board and he’s big on that, having come to power at First Hawaiian Bank when someone else had a heart attack. But Doane gives another reason for the moves.
Doane’s thinking is, in an economic downturn, it’s easy to get stuck in defensive maneuvers. So why not promote your able deputies and let them deal with weathering the downturn while you, with extra free time, look for growth opportunities?
Of course, it also means if the company runs aground on a reef during the current storm, the senior guys can blame the guys they just promoted. But that doesn’t seem like A&B’s way, and in any case it’s better positioned for the downturn than some companies.
It diversified its land holdings. It even diversified its shipping division with the China express route. And it bought new, more fuel-efficient ships just before oil prices began soaring. Doane’s not flashy — I would almost call him shy — but A&B is a well-run company, and all of Hawaii will benefit from that during the downturn.
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