Miller Paint Co., Inc.
September 26, 2025
To all MPC Shareholders:
Jason Palumbis has resigned from the Miller Paint Board of Directors effective September 26, 2025. I know I speak for the rest of the Board in thanking him for his several years of service on the Board, and in putting his heart and soul into seeing us through the transition to this next chapter of Miller Paint. We all wish Jason the very best in his next endeavor.
With Jason stepping off the Board, the Miller Paint By-Laws call for the Board to appoint an interim Director to the vacant seat until the next election in May 2026. This action to fill the vacant board seat is in the normal course of Miller corporate governance that we have followed over the past many years whenever a Director has resigned.
When Jason called me last Saturday to say he was stepping off the Board, I immediately contacted a gentleman I’ve known for over 25 years. His name is Craig Kelly, and here are the key reasons why the Board has decided to appoint him to the vacant Board seat:
a) Craig knows Miller Paint very well as a native Portlander. He is a Commercial Real Estate Broker, later an Executive and then the CEO/Owner of Venerable Properties, Inc., now known as the Meritus Property Group LLC, (Merituspg.com). He recently retired as CEO from Meritus Group in June 2025,
b) Craig has, and is currently serving, on several non-profit Boards, and has served in numerous positions in professional capacities associated with commercial real estate,
c) Craig has 36 years of experience in the commercial real estate business. He will be a huge help to the Board in advising on the sales of the remaining properties of Grand/Pine, Ballard and Whitaker Way …the large development projects that we could use some sage advice on.
I can think of no better person than Craig Kelly to step into this Board role at this point in our process of selling the Miller Paint real estate. Over the past 20 years Craig has helped me and represented Miller Paint in securing leases on a dozen Miller Paint store properties. He is a hard-nosed negotiator who knows the commercial real estate game very well. He has worked with the City of Portland on many deals (including the sale of the “Made in Oregon – White Stag” red-nosed reindeer sign sold by Venerable Properties to the City of Portland).
Please help me in welcoming Craig Kelly as the newest member of the Miller Paint Board of Directors. I wish we all had the opportunity to meet Craig in person, as I know you would be impressed with his business acumen, his corporate governance experience….and his desire to, again, help Miller Paint in the real estate arena.
Steve Dearborn