Brian Baker has been named CEO of Melcor Developments Ltd. This comes after the board of directors announced current CEO Ralph B. Young’s retirement, effective July 2.

“I am excited at the opportunity to lead the company into its 90th year,” says Baker. “We remain focused on setting and achieving strategic objectives, recruiting and training quality people, and carefully managing our capital resources. Our end goal, as always, is the protection and growth of capital investment, and the regular return of profits to our shareholders.”

Baker has been with Melcor since 1997. He is currently president and COO.

Outgoing CEO, Young, has been with Melcor for 42 years. After retirement, he will serve in an advisory position and continue to sit on Melcor’s board of directors.

“I have been extremely fortunate to have shared in the Melcor journey and I look forward to watching the new heights it will attain,” says Young.