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Alico CEO Takes Leave; Stock Rises

LA BELLE, FL-Common stock in the agribusiness and land-holding company climbs 5.18% on the announcement that Ben Hill Griffin III requests a medical leave of absence. LaBelle is 102 miles northwest of Miami.

By David R. Corder | Updated on June 12, 2001

LA BELLE, FL-Common stock in Alico Inc. closed up $1.38 a share on light volume Monday following an announcement that Ben Hill Griffin III, the company’s chairman and chief executive officer, took a medical leave of absence. LaBelle is 102 miles northwest of Downtown Miami.

Neither the company nor the 58-year-old CEO provided details in a statement issued after the close of markets Friday, when shares closed down 27 cents at $26.63. Griffin is a prominent Florida landowner, citrus grove owner and real estate developer.

Shares in the La Belle-based agribusiness and land-holding company closed up 5.18% Monday at $28.01 on volume of 37,000, just $1.21 off the 52-week high of $29.22. Shares have traded as low as $14.11 over the same time period.

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