Kelly to leave position at ACPT

Friday, Oct. 3, 2008

Kelly’s retirement, effective Dec. 1, was announced Thursday by J. Michael Wilson, ACPT’s chairman of the board of directors.

Kelly, who will continue to act as a consultant for ACPT, the developer of St. Charles in Waldorf, has worked for the company for 35 years, Wilson said in a press release.

‘‘Ed Kelly has served our company, and its predecessor, with distinction and integrity for 35 years,” he said in the release. ‘‘He is a key figure in the history of St. Charles, he is widely admired and respected for his community service and his vision and business acumen have always served our company well. His legacy is a record of achievement that has left a profoundly positive impact on the development of St. Charles, our company and on Charles County.”

Steve Griessel has been named ACPT’s chief executive officer and Matthew Martin was promoted to serve as the company’s chief financial officer, Wilson said in the release.

Griessel has served as a consultant for ACPT for the past 16 months investigating possible strategies and structures to unlock long-term shareholder value, Wilson said in the release. He established his first business, a sports marketing firm, when he was 25.

‘‘Steve is well suited to integrate innovative strategies with our long-term business plan to meet the sharp challenges posed by the current economy and the contemporary real estate market,” Wilson said in the release. ‘‘His unique perspective and experience will help identify and pursue potential areas for increasing the value of our company.”

Martin has been employed at ACPT since 2005 as chief accounting officer and has also served as the company’s principal financial officer since August, Wilson said in the release.

Martin is a certified public accountant and he earned his bachelor of science degree from Messiah College in Grantham, Pa.

‘‘During his tenure with the company Matt has done an excellent job ensuring that the company is in full compliance with all federal rules and regulations that are required of publicly-held companies,” Wilson said in the release. ‘‘Matt’s integrity and vision will ensure the continuity of our financial operations and help the company achieve its long-term goals and objectives.”