[260610.EN.SEA] Former A&B, Matson Chief Wasacz Dies At 73

FUNERAL services were held for Michael Wasacz, former president and CEO of Matson Navigation Company and its parent company Alexander & Baldwin (A&B) of Honolulu, who died recently after a battle with bladder cancer. He was 73.
"He was a very good mentor to me," said Ray Donohue, 74, Matson's former chief financial officer for 21 years and who was hired by Mr Wasacz in 1980, reported the Honolulu Star-Advertiser.

"He was probably one of the fairest persons that I have met in my lifetime. You always knew where Mike stood. He was very clear in his feelings and very clear in what he was expecting people to do," said Mr Donohue.

Said 47-year-old daughter Martha Wasacz: "He certainly was a man of integrity - he tried extremely hard to be fair in all his dealings whether it was in business or with the family. Being equitable and being fair was one of his primary focuses."

Mr Wasacz's career with the company ran from 1959 to 1990 and included eight years as president of Matson Navigation Company and two years as president of the A&B parent company.

A native of a small coal-mining town, Olyphant, Pennsylvania, he was the youngest of 10 children. He lost his father when he was 13, and his mother when he was 19.

After a tour in the US Army, he worked for Bankers Trust in New York, while putting himself through college at St John's University. His Matson career began in 1959 when he accepted a position as a freight clerk in the company's relatively small office at Rockefeller Centre.

In 1961, he transferred to Matson's San Francisco office, setting his objective as gaining as much knowledge as possible of all facets of company business.

"Through most of my early career I resisted being cast in any role other than that of a generalist. I was sure I could move up faster that way.

Quite often in the early days my transfers were designed to provide such balance," he said in a 1983 interview, on being named president of A&B, and moving to Honolulu. He returned to San Francisco in 1985, once again as president of Matson.

"Mike Wasacz left a lasting legacy," said today's Matson president Matt Cox. "Under his leadership, a number of key initiatives enhanced Matson's core market, our Hawaii service, including the company's Sand Island facility and Neighbor Island barges.

Equally important, he explored growth opportunities outside that market, with Matson Integrated Logistics a living testament to his vision.

Our centralised customer support centre is another example of an initiative that has differentiated Matson in its markets and distinguished the company through its emphasis on customer service."

He is survived by his wife Vera of 50 years, and three children, Mark, Martha and Maria as well as three grandchildren, Max, Sophie and Ava.

Source : HKSG, 26.06.10.