Goldbelt Incorporated president and CEO Robert “Bob” Loiselle announced Monday he will retire at the end of the year.
Joe Kahklen, chairman of the Goldbelt Board of Directors said he first learned of Loiselle’s intentions during a meeting to discuss a three-year extension of Loiselle’s contract.
“Bob is going out at the top of his game and that of the company itself,” Kahklen said in a statement. “I support his decision. The job requires a lot of time away from home and family. We appreciate the ample notice Bob gave us so that we can find a replacement without any gaps in leadership.”
Loiselle announced his retirement to the full Goldbelt Board of Directors soon after the company’s recent annual meeting. He explained that he would like more time to spend with his family, including his two grandchildren.
“Bob’s leadership and mentorship skills benefited the company and shareholders,” Kahklen said. “At our annual meeting on June 7, shareholders voted overwhelmingly in favor of establishing the Goldbelt Ancestral Trust, which will hold cash and assets for the benefit for shareholders with protections similar to that of Alaska’s Permanent Fund. Bob deserves the lion-share of credit for this accomplishment.”
According to Loiselle, the Goldbelt Ancestral Trust was one of his biggest accomplishments while working for Goldbelt.
“As far as my proudest accomplishment, we worked really hard getting the Goldbelt Ancestral Trust passed at the annual meeting, and we did that and we were getting almost 75 percent in favor,” he said. “That’s something that can last beyond Goldbelt, if anything were to happen to the company, not that I think anything would. But the Goldbelt Ancestral Trust is an accomplishment in the sense that it will provide benefits well into the future for stakeholders.”
Goldbelt has a number of critical projects underway that will continue to require Loiselle’s involvement, Kahklen said.
“We appreciate Bob’s leadership over the last two and a half years,” he said. “The organization has made significant progress under his guidance.”
During Loiselle’s tenure, the company’s East Coast government contracting operations expanded and increased in profitability, the shareholder hire rate increased and Goldbelt Hotel has been renovated, which is expected to increase profitability for the company, the company said in a statement. Goldbelt also launched a real estate program for the acquisition of income producing properties.
“We got a good, stable operation,” Loiselle said. “We’re profitable and will continue to be. Our goal now is to move to higher levels of revenue and profitability and there’s a lot of talented people who work with me and the company will continue to prosper and move forward.”
A search committee of the board was formed and further announcements will be forthcoming as the search for a new chief executive officer begins.