Bluegreen Vacations Corporation Announces Resignation of Shawn B. Pearson

Alan B. Levan Appointed as President and Chief Executive Officer

Raymond S. Lopez Appointed as Chief Operating Officer

FORT LAUDERDALE, Fla.--()--BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) ("BBX Capital"), announced that Bluegreen Vacations Corporation (NYSE: BXG), which is 90% owned by BBX Capital, issued the following press release. Please see the Bluegreen press release below.

About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) is a Florida-based diversified holding company whose principal investments include Bluegreen Vacations Corporation (NYSE: BXG), BBX Capital Real Estate, Renin Holdings, and IT’SUGAR. For additional information, please visit www.BBXCapital.com.

BBX Capital Corporation Investor Relations Contact:
Leo Hinkley, Managing Director, Investor Relations Officer
Phone: 954-940-5300
Email: LHinkley@BBXCapital.com

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Bluegreen Vacations Corporation Announces Resignation of Shawn B. Pearson

Alan B. Levan Appointed as President and Chief Executive Officer

Raymond S. Lopez Appointed as Chief Operating Officer

BOCA RATON, Fla. (November 25, 2019) -- Bluegreen Vacations Corporation (NYSE: BXG) ("Bluegreen Vacations" or the “Company") announced today that Shawn B. Pearson has resigned as President and Chief Executive Officer (“CEO”) effective December 31, 2019 for family reasons. Alan B. Levan will succeed Mr. Pearson as President and CEO of the Company following Mr. Pearson’s separation. Mr. Levan has served as Chairman of Bluegreen Vacations for over 15 years. Mr. Levan also serves as Chairman, CEO and President of BBX Capital Corporation (NYSE: BBX) (“BBX Capital”). BBX Capital, indirectly through its wholly-owned subsidiary, Woodbridge Holdings Corporation, owns approximately 90% of the Company’s outstanding common stock.

“I would like to thank Shawn Pearson for his years of service to the Company and successfully leading our initial public offering in 2017 and for building a strong management team. I wish Shawn and his family well,” said Mr. Levan.

The Company also announced that Raymond S. Lopez was appointed Chief Operating Officer, in addition to his current role as Executive Vice President, Chief Financial Officer & Treasurer. Mr. Lopez will also continue to serve as Executive Vice President and Chief Financial Officer of BBX Capital Corporation. Mr. Lopez previously served as Chief Accounting Officer of the Company from 2005 through 2015 and as Controller from 2004 to 2005. Mr. Lopez is a Certified Public Accountant, is currently serving as the Co-Chairperson of the ARDA Finance Committee and was named “Chief Financial Officer of the Year” by the South Florida Business Journal in 2018.

“Ray has a thorough understanding of our business and has demonstrated his ability to successfully lead management teams to achieving the Company’s goals. I look forward to continuing to work with Ray in his new role,” said Mr. Levan.

About Bluegreen Vacations Corporation Bluegreen Vacations Corporation (NYSE: BXG) is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, vacation ownership plan with approximately 219,000 owners, 69 Club and Club Associate Resorts and access to more than 11,350 other hotels and resorts through partnerships and exchange networks as of September 30, 2019. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is approximately 90% owned by BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), a diversified holding company. For further information, visit www.BluegreenVacations.com.

About BBX Capital Corporation

BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), is a Florida-based diversified holding company whose activities include its approximate 90% ownership interest in Bluegreen Vacations Corporation (NYSE: BXG) as well as its real estate and middle market divisions. For additional information, please visit www.BBXCapital.com.

Contacts

Bluegreen Vacations Media Contact:
Nikki Sacks, 203-682-8263
or
Evelyn Infurna, 203-682-8265
Email: bluegreenvac@icrinc.com

Release Summary

Bluegreen Vacations Corporation Announces Resignation of Shawn B. Pearson

Contacts

Bluegreen Vacations Media Contact:
Nikki Sacks, 203-682-8263
or
Evelyn Infurna, 203-682-8265
Email: bluegreenvac@icrinc.com