Two St. Joe Board Members Resign

Investors Bruce R. Berkowitz and Charles M. Fernandez resigned from the board of St. Joe Co. just six weeks after they joined, adding more confusion at the real-estate developer, which is caught in the middle of a battle for control.

Messrs. Berkowitz and Fernandez are both executives at Fairholme Capital Management, a Miami-based mutual-fund manager that, with nearly 30% of St. Joe's shares outstanding, is the company's largest stockholder.