HomeFed’s Fletcher Says He Will Retire

Charles K. (Kim) Fletcher Jr. said Monday that he will retire as a salaried employee at San Diego-based HomeFed Bank and HomeFed Corp., its parent company. Fletcher, 63, will continue as chairman of the board of both companies but will “not be as active in the day-to-day operations.”

The decision to retire surprised some people, Fletcher said, adding, “It was my own personal decision.” HomeFed’s corporate policy does not require mandatory retirement at age 65.

Fletcher, who joined HomeFed in 1950, was named president in 1964. He became chairman and chief executive officer in 1979. He began to step back from the S&L; in early 1990 when he turned over the chief executive’s office to Robert F. Adelizzi, who has served as HomeFed’s president since 1981.

Fletcher said he will spend two or three days a week at HomeFed in order to have more time to spend with his family and working for charitable and civic organizations.