Molokai Properties’ Nicholas Retires, Lanai Executive Appointed
By Sonia Isotov
Molokai Properties Ltd. (MPL) will say goodbye to Peter A. Nicholas, 62, as he retires as of the end of this year.
In his place, Guoco-Leisure Limited, owners of MPL, have appointed, Clay R. Rumbaoa, 50, a former Castle and Cooke executive, who will serve as executive director effective November 14, 2011.
Nicholas led MPL since 2002 as executive director and he plans to retire from this role on December 31, 2011, but will continue to oversee the company’s investments in Fiji.
There will be a handover period with Nicholas to facilitate a smooth transition. Rumbaoa is responsible for the overall strategic and operational management of Guoco-Leisure Limited’s Molokai investments.
Since 2005, Rumbaoa had been the director of engineering and development on Lanai with Castle and Cooke Resorts. He is a registered professional civil engineer in the states of Hawaii, California and Arizona and holds a Hawaii general contractor and engineering license. He also holds a Bachelor of Science degree in civil engineering from Bradley University in Peoria, Illinois.