Tejon Ranch (TRC, Financial) has communicated with its shareholders ahead of the company's Annual Meeting on May 13, 2025, emphasizing the importance of continued support for its current Board of Directors. The company highlighted its commitment to long-term shareholder value creation through strategic capital allocation and spending under the guidance of an experienced Board. Tejon Ranch expressed confidence in its track record of acting in the best interests of shareholders by maintaining robust governance and investor relations.
Contrastingly, Bulldog Investors, a hedge fund from New Jersey, is challenging Tejon Ranch's leadership by proposing three new director nominees. Tejon Ranch criticized these nominees as lacking the necessary expertise in real estate and land development specific to California. The company warned shareholders that supporting Bulldog's agenda could jeopardize decades of progress, offering only potential short-term gains at the expense of significant long-term growth. Tejon Ranch noted that while it has attempted to engage with Bulldog in a positive manner, the hedge fund has opted to leverage the company's shareholder-friendly voting system to gain undue influence.
