“Dave will provide strong leadership and direction to the new Rayonier,” said Boynton. “With 30 years of industry experience, he will continue Rayonier’s long legacy of growing shareholder value and provide strategic direction to one of the best teams of timber and real estate professionals in our industry.”
David Nunes will join Rayonier Inc. on June 9 as chief operating officer and will play a key role in finalizing the separation of the company. Upon completion of the separation, he will assume responsibility for the leadership of Rayonier Inc. As previously announced, Rayonier’s Performance Fibers division will become Rayonier Advanced Materials; an independent company initially focused on the production of high-purity cellulose specialty products.
Following the separation, Richard Kincaid, director, will become chairman of Rayonier Inc.
“In preparation for the separation, we’ve strategically aligned our businesses to maximize their growth potential,” Kincaid said. “We’ve added high quality timberlands in the Gulf States, divested our non-core timberlands and increased our ownership in New Zealand. Additionally, our Real Estate business has obtained key land use entitlements to position our HBU portfolio for enhanced sales values. Dave’s experience in strategic planning and growing and diversifying timberland portfolios will play a key role in our timber and real estate strategies moving forward. The Board is excited to work with Dave to maximize shareholder value following the separation.”
Rayonier is a leading international forest products company with three core businesses: Forest Resources, Real Estate and Performance Fibers. The company owns, leases or manages 2.6 million acres of timber and land in the United States and New Zealand.