Aug 04, 2006. /Lesprom Network/. Rayonier Inc. said on August 1 its president and chief executive Lee Nutter will retire in mid-2007 after 40 years with the real estate investment trust. "I have given the board early notice of my plans in order to facilitate a seamless transition to my successor," said Nutter, who will be 63 when he retires. He has held the CEO position since 1999 and has been a director since 1996. Mr. Nutter began working with Rayonier out of college in 1967. He serves on boards for Republic Services Inc., the American Forest and Paper Association, the North Florida Regional Board of SunTrust Bank and other groups. The board said it will consider both internal and external candidates while choosing a successor. Rayonier Inc is a forest products company primarily engaged in the trading, merchandising and manufacturing of logs, timber and wood products, and in the production and sale of high-value-added specialty pulps.