After saying since announcing the deal in October it would come up with a new name after merging with PotlachDeltic Corp., Rayonier Inc. announced March 31 it will keep its name after all.
Rayonier, headquartered in Wildlight in Nassau County, completed the merger Jan. 30 and said at that time it would announce a new name for the timber, real estate and paper company later in the first quarter, which ended March 31.
“In a spirit of collaboration following our transformative merger of equals, we considered numerous alternatives for a new company name,” Rayonier CEO Mark McHugh said in a news release.
“We also considered the rich history, considerable brand equity, and established market presence of both the legacy Rayonier and PotlachDeltic corporate brands. Ultimately, the new Board of Directors and senior leadership team of the combined company agreed that the new organization would be best served by retaining the name ‘Rayonier,’ while also introducing a refreshed corporate logo that reflects the beginning of a new era as a combined company,” he said.
“This approach will allow us to honor our proud history and leverage our strong brand equity among stakeholders, while also mitigating the cost, complexity and potential risk of confusion in adopting an entirely new corporate identity,” he said.
McHugh was CEO of Rayonier before the merger and continues in that role.
Rayonier has said it will move its corporate headquarters to Atlanta but maintain a significant presence in Wildlight and PotlachDeltic’s headquarters in Spokane, Washington.
Rayonier’s stock will continue to trade on the New York Stock Exchange under the ticker symbol “RYN.”