Tejon Ranch Co. announced that on January 4, 2019, the Board of Directors promoted Allen E. Lyda, by appointing him to the newly created office of Chief Operating Officer. As a result, Mr. Lyda has resigned from the office of Chief Financial Officer of the company.

As Chief Operating Officer, Lyda will supervise operations of the company that include finance, investor relations, the Outlets at Tejon, farming, mineral and water operations, and human resources. The Board of Directors also promoted Robert D. Velasquez, by appointing him to the office of Chief Financial Officer. The appointments are effective as of January 1, 2019.

As a result, Mr. Velasquez has resigned from the office of Chief Accounting Officer of the company. Mr. Velasquez joined the company in 2014. Prior to joining the company, he was employed by Ernst & Young LLP, serving as an Executive Director.