Nemec Elected to Florida East Coast Industries, Inc. - NYSE:FLA - Board of Directors, Quarterly Dividend Declared.
ST. AUGUSTINE, Fla.--(BUSINESS WIRE)--Aug. 31, 2000
The Florida East Coast Industries, Inc. (NYSE NYSE
See: New York Stock Exchange :FLA) (FECI) Board of Directors today elected Joseph Nemec as a Director of the Company and declared a quarterly dividend.
Mr. Nemec is a Senior Vice President at Booz Allen and Hamilton, Inc., overseeing the firm's e-business initiatives and has worked across a broad range of industries, most notably telecommunications, assisting clients in creating business development strategies and assessing new technologies. Nemec earned his bachelor's, master's and doctorate degrees at the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, and is a member of the 81st Advanced Management Program at Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. .
"As the Company's investments in and commitments to the telecommunications business have grown significantly both in scope and scale, we are very pleased to have a professional of Joe's caliber, background and technical expertise join our Board. His guidance will serve our shareholders well and we view his acceptance of this position as a vote of confidence from an expert," said FECI Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert Anestis.
The Board also declared a quarterly dividend of $.025 (2 1/2 cents) per share on all issued and outstanding common stock payable on September 28, 2000, to all shareholders of record as of September 14, 2000.
Florida East Coast Industries, Inc., headquartered in St. Augustine, Fla., conducts operations through four wholly owned subsidiaries, Flagler Development Company (Flagler), Florida East Coast Railway The Florida East Coast Railway (AAR reporting marks FEC) is a Class II railroad operating in the U.S. state of Florida; in the past, it has been a Class I railroad. Company (FECR FECR Florida East Coast Railway
FECR Frame Error Count Register ), International Transit, Inc. (ITI (Information Technology Industry Council, Washington, DC, www.itic.org) Formerly the Computer and Business Equipment Manufacturers Association (CBEMA), founded in 1916. ITI is a membership organization composed of approximately 30 large high-tech companies. ) and EPIK EPIK Eesti Puuetega Inimeste Koda (The Estonian Chamber of Disabled People) Communications Incorporated (EPIK). Flagler owns, develops, leases and manages approximately 6 million square feet of commercial space and owns approximately 18,000 acres of land, all in Florida. FECR is a regional freight railroad that operates 351 miles of main line track, from Jacksonville to Miami. ITI provides truckload service, intermodal drayage Drayage
A trucking company freight charge for the pick up or delivery of an ocean container. and transportation logistics and brokerage services throughout the Midwest and the southeastern United States. EPIK, based in Orlando, Fla., is a carrier's carrier that provides bandwidth fiber capacity and dark fiber leases to telecommunications providers.
This release contains "forward-looking statements" within the meaning of section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements represent the Company's present expectations or beliefs concerning future events. The Company cautions that such statements are necessarily based on certain assumptions, which are subject to risks and uncertainties, including, but not limited to, changes in general economic condition, and changing competition and technology which could cause actual results to differ materially from those indicated herein. Further information on these risk factors is included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information contained in this news release.