Colony Capital, and its subsidiaries (collectively, “Colony Capital” or the “Company”) announced the completion of the latest steps in connection with its ongoing digital transformation and strategic plan.
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“The corporate revolver amendment progresses two of the key priorities we have highlighted to investors, demonstrating our commitment to de-lever the balance sheet and building a clear liquidity runway on our ‘Path-to-Digital,’”
Marc Ganzi Assumes Role of President and Chief Executive Officer and Jacky Wu Assumes Role of Chief Financial Officer of Colony Capital
As previously disclosed, Marc C. Ganzi assumed the role of Colony Capital’s Chief Executive Officer , succeeding Thomas J. Barrack, Jr., who will continue in his role as Executive Chairman. In connection with Mr. Ganzi’s appointment the Company’s Board of Directors (the “Board”) appointed Mr. Ganzi as a member of the Board and as President of the Company, effective today. In addition, as previously disclosed, Jacky Wu has assumed the role of Chief Financial Officer and Treasurer, effective today.
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“Three years ago we embarked on a pivot to the digital frontier and its incredible potential of growth and opportunity,” said Mr. Barrack. “The final piece we needed to complete this critical transition is the exact right CEO to lead Colony in its transformation and build on Colony’s strong global legacy. I am confident that under Marc’s leadership, Colony Capital will be positioned as the premier investment partner for companies enabling the next generation of mobile and internet connectivity.”
“I want to thank Tom for his visionary leadership in building Colony Capital into a best-in-class real estate investment platform over the past three decades,” said Mr. Ganzi. “In today’s uncertain environment, global communications infrastructure and the digital ecosystem it comprises have never been more essential in bridging the digital divide and connecting communities, businesses and individuals around the world. Colony is poised to capitalize on a wide variety of attractive investment opportunities to provide greater connectivity and services for our customers and superior value for our shareholders. I look forward to working closely with the Board, Jacky, and the rest of our executive management team to execute on our shared vision.”
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