Matson, Inc. said its stock began trading on the New York Stock Exchange today under the ticker symbol MATX, following the separation of Alexander & Baldwin Holdings, Inc. into two companies.
Matson will carry on its shipping and logistics operations, while Alexander & Baldwin has taken over the company’s agriculture and real estate businesses.
“With our board and executive team focused entirely on transportation, we are confident that Matson is well positioned to further strengthen and grow its ocean transportation and logistics services,” said Matson President and Chief Executive Officer Matthew Cox, in a statement.
Joel Wine will serve as senior vice president and chief financial officer and Rusty Rolfe has been promoted from executive vice president to president of the subsidiary Matson Logistics. Other senior Matson executives include Ronald J. Forest, senior vice president for operations; Dave Hoppes, senior vice president of
ocean services; Kevin O’Rourke, senior vice president and chief legal officer; and Vic Angoco, senior vice president in the Pacific.
Walter A. Dods Jr. is chairman of the company and the other directors include Cox and W. Blake Baird, Michael J. Chun, Ret. Navy Adm. Thomas B. Fargo, Constance H. Lau, and Jeffrey N. Watanabe.
The company’s stock opened at $27.74. – Chris Dupin
Matson starts trading as separate public company
