Maui Land and Pineapple Co. Inc.'s top management will change come January, with David Cole exiting his role as chairman, president and chief executive officer.

The company said Robert Webber, currently chief operating officer and chief financial officer, will succeed him as president and chief executive officer on Jan. 1, while Warren Haruki will become chairman.

Maui Land and Pineapple said Cole will continue to serve as a director of the company and its representative on the boards of Hawaii BioEnergy and the Hawaii Superferry.

The company also reported it had a net loss of $8.7 million, or $1.09 a share in the third quarter.

That compared to a loss of $155,000, or 2 cents a share, a year earlier.