Consolidated-Tomoka Land Co. Names Linda Shelley to the Company's Board of Directors
December 01 2008 - 10:53AM
PR Newswire (US)
DAYTONA BEACH, Fla., Dec. 1 /PRNewswire-FirstCall/ --
Consolidated-Tomoka Land Co. (NYSE Alternext US: CTO) announced
today that it has named Linda Loomis Shelley to the Company's Board
of Directors. Ms. Shelley, who qualifies as an independent
director, fills a vacancy on the Board created by the retirement of
Bob Allen. She will stand for election at the Company's 2009 Annual
Meeting and serve in the class of Directors with terms expiring in
2010. William H. McMunn, Chairman and CEO of Consolidated-Tomoka
stated, "Linda Shelley is an accomplished professional whose
background and broad experience are uniquely relevant to our
Company's business. Linda is well known and respected across the
State of Florida and has extensive knowledge of growth management,
environmental issues, land planning, and the legislative and
regulatory process. We are very pleased to welcome Linda as a new
independent member of the Board and look forward to her
contributions." Ms. Shelley is a shareholder in the law firm of
Fowler White Boggs PA, where she specializes in environmental and
land use issues and chairs the firm's business department. She has
extensive experience in Florida state government, having served in
numerous key positions, including as General Counsel to Governor
Bob Graham and as Chief of Staff to Governor Lawton Chiles. She
also served as the Secretary of the Department of Community Affairs
("DCA"). DCA is the state's land planning and community development
agency, which ensures that new growth complies with Florida's
growth management laws. In addition to other professional roles and
accomplishments, Ms. Shelley is a member or trustee of several
community and professional associations. Ms. Shelley earned her
J.D. from the University of Florida, Levin College of Law and her
B.A. from the University of Florida. She is a resident of
Tallahassee, Florida. About Consolidated-Tomoka Land Co.
Consolidated-Tomoka Land Co. is a Florida-based company primarily
engaged in converting Company owned agricultural lands into a
portfolio of net lease income properties strategically located in
the Southeast, through the efficient utilization of 1031
tax-deferred exchanges. The Company has low long-term debt and
generates over $9 million in annual before tax cash flow from its
real estate portfolio. The Company also engages in selective self-
development of targeted income properties. The Company's adopted
strategy is designed to provide the financial strength and cash
flow to weather difficult real estate cycles. Visit our website at
http://www.ctlc.com/. DATASOURCE: Consolidated-Tomoka Land Co.
CONTACT: Bruce W. Teeters, Sr. Vice President, Consolidated-Tomoka
Land Co., +1-386-274-2202, Facsimile: +1-386-274-1223 Web site:
http://www.ctlc.com/
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