ST. AUGUSTINE, Fla., June 19 /PRNewswire-FirstCall/ -- Florida East Coast Industries, Inc. ("FECI") today announced the appointment of Edward Manno Shumsky as Executive Vice President and Chief Human Resource Officer. Mr. Shumsky will manage the company's organizational operations and will oversee HR integration related to the recent acquisition of Codina Group, Inc. Mr. Shumsky will report directly to Chairman, President and Chief Executive Officer Adolfo Henriques.
"Edward brings a powerful mix of human resource leadership, legal expertise, and corporate accomplishments to FECI," said Mr. Henriques. "His ability to configure high-performance executive teams and to develop strategic and rewarding human resource initiatives will be a tremendous benefit to our organization."
Mr. Shumsky joins FECI from Watson Wyatt Worldwide , a global human capital and financial management-consulting firm, where he has directed the Miami, Florida office and has served as a member of the company's Board of Directors. Mr. Shumsky's 16-year tenure with Watson Wyatt began in New York where he was Director of Marketing and Business Development. In 1993, he was appointed Director of Account Management for the Southeastern U.S., based in Atlanta, and in 1998 was named Managing Consultant for the Miami office, which has experienced dramatic growth under his leadership.
Prior to his work in the area of human resource and financial management consulting, Mr. Shumsky served in key executive and regulatory positions. He was Executive Assistant and Counsel to the CEO of E.F. Hutton & Company in 1987, and was directly involved in the company's realignment and sale to Shearson Lehman American Express. In this position, he applied his expertise to issues of executive pay, performance and employee retention to help restructure the business.
In the legal and regulatory fields, Mr. Shumsky served as an antitrust lawyer in the Bureau of Competition at the Federal Trade Commission (FTC) in Washington D.C., as well as Legal Advisor to the Director of the Bureau. In 1983, he was appointed by the White House as one of approximately 15 government officials to serve in the President's Executive Exchange Program, and spent his exchange year at Merrill Lynch in Corporate Strategic Planning. In 1984, he was appointed Regional Director of the FTC for the New York/ New Jersey region.
Mr. Shumsky is a graduate of Muhlenberg College and the University of Maryland School of Law where he presently serves on its Board. He is a member of the Bars of New York, Maryland and Washington, D.C. He is also a member of the Board of Goodwill Industries of South Florida and the Board of Governors of the Greater Miami Chamber of Commerce.
About Florida East Coast Industries
Florida East Coast Industries, Inc., headquartered in St. Augustine, FL, conducts operations through two wholly owned subsidiaries, Flagler Development Company (Flagler) and Florida East Coast Railway, L.L.C. (FECR). Flagler owns, leases and manages 8.1 million square feet of commercial and industrial space, as well as an additional 575,000 square feet under construction, and owns approximately 678 acres of entitled land and approximately 3,137 acres of additional Florida properties. In addition, Flagler holds additional properties in joint ventures with partners such as AMB Properties and JP Morgan. FECR is a regional freight railroad that operates 351 miles of mainline track from Jacksonville to Miami and provides intermodal drayage services at terminals located in Atlanta, Jacksonville, Ft. Lauderdale and Miami. For more information, visit the Company's Web site at http://www.feci.com/ .
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include the Company's present expectations or beliefs concerning future events. These statements may be identified by the use of words like "plan," "expect," "aim," "believe," "project," "anticipate," "intend," "estimate," "will," "should," "could," "may", and other expressions that indicate future events and trends. The Company cautions that such statements are necessarily based on certain assumptions, which are subject to risks and uncertainties that could cause actual results to materially differ from those contained in these forward-looking statements. Important factors that could cause such differences include, but are not limited to, the changing general economic, business, competitive, regulatory and market conditions (particularly in the state of Florida, the southeast U.S. and the Caribbean) and other risks inherent in the real estate and other businesses of the Company. Further information on these and other risk factors is included in the Company's filings with the Securities and Exchange Commission, including the Company's most recently filed Forms 10-K and 10-Q. The Company assumes no obligation to update the information contained in this news release, which speaks only as of its date.
