Colony Capital Finalizes Leadership Transition,
Accelerating Strategic Pivot to Digital Real Estate and Infrastructure
Marc Ganzi to Become CEO on July 1, 2020
Files Preliminary Proxy in Connection with 2020 Annual Meeting of Stockholders
LOS ANGELES – March 12, 2020 – Colony Capital, Inc. (“Colony Capital” or the “Company”) (NYSE: CLNY) today announced that it has filed its preliminary proxy statement with the U.S. Securities and Exchange Commission (“SEC”) in connection with the Company’s 2020 Annual Meeting of Stockholders (“2020 Annual Meeting”).
In connection with today’s filing, the Company announced that Marc C. Ganzi,Co-Founder and CEO of Digital Bridge, Managing Partner and an Investment Committee Member at Digital Colony, andCEO-elect of Colony Capital, will become CEO of the Company, effective July 1, 2020. Mr. Ganzi will succeed Thomas J. Barrack, Jr., who will continue in his role as Executive Chairman.
Mr. Ganzi will lead the Company in its ongoing transformation and advance Colony’s strategy to become the leading global platform for digital real estate and infrastructure. As CEO, Mr. Ganzi will focus with the Colony Board and executive team in capitalizing on the compelling global opportunities in the digital ecosystem and simplifying the business to deliver value for stockholders.
As part of the leadership transition, Jacky Wu will become Chief Financial Officer and Treasurer, effective July 1, 2020. Mr. Wu, who will join Colony Capital on March 23, 2020 as Executive Vice President of Finance, will succeed Mark Hedstrom, who will continue serving in his roles as Executive Vice President and Chief Operating Officer.
“We’re pleased to finalize our leadership succession as we continue to accelerate our digital transformation to become the leading platform for digital real estate and infrastructure,” said Mr. Barrack. “Marc has extensive digital experience and a proven track record in global communications infrastructure. The Board and management team are confident that Marc will extend Colony’s legacy of making prescient investments to deliver superior returns for investors and lead the Company in its next phase of growth.”
“I am excited to work with our best in class team to continue building on our significant progress to bridge the digital divide and unlock the value inherent in our portfolio,” said Mr. Ganzi. “As the only global REIT that owns, builds, manages, and operates across all of the components of the digital ecosystem, Colony Capital is strategically positioned to capitalize on the numerous opportunities that exist to help our customers expand and densify their networks through our mission critical digital real estate and infrastructure.”
As detailed in its preliminary proxy statement, the Colony Capital Board has nominated the following 11 candidates for election to the Board, each to serve until the 2021 Annual Meeting of Stockholders and until his or her successor is duly elected and qualified: Thomas J. Barrack, Jr., Douglas Crocker II, Nancy A. Curtin, Jon A. Fosheim, Craig M. Hatkoff, Raymond C. Mikulich, George G. C. Parker, Dale Anne Reiss, Charles W. Schoenherr, John A. Somers and John L. Steffens. In addition, the Colony Capital Board has engaged Spencer Stuart, a leading third party executive search firm, to assist with an ongoing search for additional independent director candidates who have digital real estate and infrastructure expertise.
Colony Capital stockholders are not required to take any action at this time. The Company’s definitive proxy materials will be filed with the SEC and mailed to all stockholders eligible to vote at the 2020 Annual Meeting.