Rayonier Inc., which is planning to spin off its performance fibers business as a separate public company, named a new chief executive Monday for its remaining timber and real estate businesses.
David Nunes, currently president of Pope Resources, will become president and CEO of the timber and real estate businesses, which will retain the Rayonier Inc. name.
As previously announced, the performance fibers business will be called Rayonier Advanced Materials Inc. after the spinoff. Current Rayonier Inc. Chairman, President and CEO Paul Boynton will take over those roles at Rayonier Advanced Materials.
Jacksonville-based Rayonier said Nunes has three decades of experience in the timber and real estate industry and has been CEO of Pope since 2002.
Pope, based in Poulsbo, Wash., is a publicly traded limited partnership that owns and manages timberland and development property mainly in the Northwestern U.S.
Nunes will join Rayonier as chief operating officer on June 9 and then take over the president and CEO positions once the spinoff is complete.
“Rayonier is well positioned to capitalize on the rebounding economy and housing markets. Rayonier’s unique combination of assets and talent will ensure that we continue the company’s long history of delivering value to our shareholders,” Nunes said in a news release.
Rayonier said Richard Kincaid, a board member for 10 years, will become chairman after the spinoff. Kincaid is president and founder of the nonprofit BeCause Foundation and a former CEO of commercial real estate firm Equity Office Properties Trust.