25 Apr CADIZ INC. ANNOUNCES APPOINTMENT OF KEN LOMBARD TO ITS BOARD OF DIRECTORS
Lombard, a well-known civic and business leader from Los Angeles, holds over three decades of experience in business, real estate, urban development, and public service
Lombard served as Commissioner and President of Los Angeles Department of Water & Power, and on the Board of Directors of the Metropolitan Water District of Southern California
LOS ANGELES, April 25, 2022 — Cadiz Inc. (“the Company”, NASDAQ: CDZI/CDZIP) is pleased to announce today that Mr. Ken Lombard has been appointed to the Company’s Board of Directors. Lombard is the President & CEO of BRIDGE Housing, a leading nonprofit developer, owner, and manager of affordable housing in California, Oregon, and Washington.
Over 30 years, Mr. Lombard has built an extensive career across a range of industries, including investment banking, urban development, corporate expansion, real estate investment and entertainment. His previous experience includes senior roles at Johnson Development Corporation, which he co-founded in 1992 with Earvin “Magic” Johnson, Starbucks Entertainment, Capri Capital Partners, MacFarlane Partners, and Seritage Growth Properties. Mr. Lombard holds an equally distinguished career in public service, including leading roles as Commissioner and President of the Los Angeles Department of Water & Power, as a Director on the Board of the Metropolitan Water District of Southern California, as President of the Los Angeles Fire Department Commission and the Los Angeles Charter Reform Commission.
“Ken’s extensive industry experience, financial acumen and commitment to underserved communities is unparalleled,” said Susan Kennedy, Executive Chair of the Cadiz Board. “With California facing crossroad after crossroad on the issues of water supply, affordable housing, economic opportunity, and climate change, I can think of no one better than Ken Lombard to help this company deliver on its mission for the people of California.”
“I’m pleased to have this opportunity to make a difference at such an important time in the fight against climate change,” said Director Lombard. “Water insecurity threatens not only our people and the environment, but also whole communities, our economy, our future and the quality of life that makes California so great. I look forward to being part of the solution as a member of the Board.”
Lombard’s appointment to the Board is effective immediately. Lombard will serve on the Board’s Audit and Risk Committee, which provides oversight of the Company’s financial statements, assessment of risk, and compliance with legal, security and regulatory requirements.
About Ken Lombard
Ken Lombard is presently President & CEO of BRIDGE Housing, a leading nonprofit developer, owner, and manager of affordable housing. He joined BRIDGE in November 2021. Previously, from 2018-2021, Mr. Lombard held positions at Seritage Growth Properties (NYSE: SRG), most recently as Special Advisor, and previously as Seritage’s EVP and COO. Earlier, from 2016-2018, Mr. Lombard was President, Vice Chairman and Partner of MacFarlane Partners, an investment management firm that acquires, develops, and manages real estate assets on behalf of pensions and institutional investors. From 2009-2016, Mr. Lombard served as head of investments for Capri Capital Partners, and President of the Capri Urban Fund, which has invested over $1 billion in commercial, residential, and mixed-use development, redevelopment, and repositioning projects in densely populated urban markets of the U.S. From 2004 to 2008, Mr. Lombard served as President of Starbucks Entertainment, where he managed the collaboration with Concord Music to form a new Starbucks music label. In 1992, Mr. Lombard and Earvin “Magic” Johnson co-founded the Johnson Development Corporation focused on economic improvement in underserved communities; Lombard served as President and Partner of Johnson Development Corporation until 2004.
Mr. Lombard has held several positions on public agency boards and commissions, including the Los Angeles Fire Department Commission, the Los Angeles Charter Reform Commission, the Los Angeles Department of Water and Power Board of Commissioners, and the Metropolitan Water District of Southern California Board of Directors, among others.
Mr. Lombard holds a Bachelor of Arts in Communication from the University of Washington.
Additional information about the Cadiz Inc. Board of Directors is available on the Company’s website at https://www.cadizinc.com/board-of-directors/ .