The St. Joe Company (NYSE:JOE) ("St. Joe" or the "Company") announced
today that Marek Bakun is joining the Company as Chief Financial Officer
(CFO) effective October 7. Mr. Bakun is replacing Tom Hoyer who has held
the position since March 2012.
"St. Joe appreciates Tom's accomplishments working with the leadership
team to better position the Company financially," said Park Brady, CEO
for The St. Joe Company. "The addition of Marek, who brings extensive
financial-management experience in real estate development and
homebuilding, will help us build on the Company's strong financial
With responsibilities as the Chief Financial Officer for national and
international homebuilding companies, Mr. Bakun's experience includes
financial reporting and compliance, cost and capital management,
consolidations and acquisitions, value generation as well as operational
efficiency. He earned a Bachelor of Science degree in Business
Administration, Accounting from the University of Central Florida. He is
a Certified Public Accountant and a licensed general contractor and real
Mr. Bakun comes to St. Joe from Orleans Homebuilders, Inc., in Bensalem,
Penn., where he served as Chief Financial Officer and Treasurer since
February 2011. Prior to that, he served as CFO and Treasurer for Mattamy
Homes Corporation with responsibility for financial controls in its five
He began his career as an auditor and joined Morrison Homes in 1999,
holding numerous positions. In August 2006 he was promoted to Vice
President and Chief Financial Officer. When Morrison Homes merged with
Taylor Woodrow in 2007, Mr. Bakun managed the financial integration of
the two multi-billion dollar companies and continued as CFO for the U.S.
and Canadian operations until 2008 when he joined Mattamy Homes
"I am excited to join the leadership team of The St. Joe Company," said
Marek Bakun. "The strong financial foundation combined with valuable
assets poise the Company for a bright future."
About The St. Joe Company
The St. Joe Company is a Florida-based real estate developer and
manager. The Company owns approximately 567,000 acres of land
concentrated primarily in Northwest Florida and has significant
residential and commercial land-use entitlements in hand or in process.
The majority of land not under development is used for the growing and
selling of timber. The Company also owns various commercial, resort and
club properties. More information about the Company can be found on its
website at www.joe.com.
Statements in this press release that are not historical facts are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements about the
Company's beliefs, plans, goals, expectations and intentions.
Forward-looking statements involve risk and uncertainty, and there can
be no assurance that the results described in such statements will be
realized. Such statements are based on our current expectations and the
company undertakes no obligation to publicly update or reissue any
forward-looking statements. Risk factors that may cause the actual
results to differ are described in this press release and in various
documents have been filed with the U.S. Securities and Exchange
Commission, including the Company's annual report on Form 10-K filed
with the Commission on March 1, 2013.
© 2013, The St. Joe Company. "St. Joe®", "JOE®", the "Taking Flight"
Design®, "St. Joe (and Taking Flight Design)®" are registered service
marks of The St. Joe Company.
Lori Elliott, 850-402-5138
Director, Marketing &