BENEFICIARIES REAPPOINT TRUSTEES FOR PARKER RANCH FOUNDATION TRUST

Effective January 1, 2012, three trustees were reappointed to govern the Parker Ranch Foundation Trust. The appointment of the trustees by the Trust’s four charitable Beneficiaries – North Hawai‘i Community Hospital, Parker School Trust Corporation, Hawai‘i Preparatory Academy and the Richard Smart Fund of the Hawai‘i Community Foundation – follows an annual review by the Beneficiaries of the Trust’s performance.

In the last three years, the Beneficiaries have reduced the total number of trustees from five to three. Reappointed this year were Michael W. Gibson, Timothy E. Johns, and Brendan G. (“Pete”) Moynahan. Laurie Ainslie, 2011 Chair of the Trust Beneficiaries’ Committee explained that the Beneficiaries felt the combined services of the Trustees, including former Trustee David McCoy, whose term ended in 2011, had resulted in a successful search for a Chief Executive Officer and in mature and stable governance of the Trust, permitting a further reduction in the number of Trustees.

Each of the reappointed Trustees has served the Trust since 2007. Pete Moynahan also serves both as Trustee of the A.L. Shelly Hawaii Trust and as an officer of its related operating companies. Michael Gibson is a partner with the law firm Ashford & Wriston, where his practice focuses on real property and commercial litigation. Timothy Johns was formerly President and Chief Executive Officer of the Bishop Museum. In 2011 he became the senior vice president of the Hawaii Medical Service Association.

The Parker Ranch Foundation Trust was created in 1992 by Richard Smart, a sixth generation descendant of John Palmer Parker, founder of Parker Ranch. The Trust was formed exclusively for health care, education, and charitable purposes within the Kamuela community.

The Trust is the sole shareholder of Parker Ranch Inc., one of the largest and most historic ranches in the United States, spanning over 130,000 acres across Hawai‘i Island. Founded in 1847, Parker Ranch surrounds the town of Kamuela and spreads between the Kohala and Mauna Kea mountains. Neil “Dutch” Kuyper serves as Parker Ranch Inc. President & CEO.

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