Rayonier Hosts Annual Meeting of Shareholders
17 Maio 2012 - 5:34PM
Business Wire
Rayonier Inc. (NYSE:RYN) hosted its Annual Meeting of
Shareholders today at 4 p.m. in Jacksonville, Fla.
At the meeting, shareholders elected the following directors to
the board:
- Richard D. Kincaid, V. Larkin Martin,
James H. Miller and Ronald Townsend; each for three-year terms,
expiring in 2015
- Thomas I. Morgan, one-year term,
expiring in 2013
Shareholders also approved the following management-sponsored
proposals:
- Amendments to the company’s Articles of
Incorporation to remove the board’s classified structure and
increase the number of authorized common shares
- Amendments to the Rayonier Incentive
Stock Plan to increase the number of shares available and reapprove
the material terms of performance-based awards
An annual advisory vote approving the compensation of Rayonier’s
named executive officers also received strong shareholder
support.
As planned, Lee Thomas retired from the board of directors at
the end of the meeting, and Paul Boynton, Rayonier’s president and
CEO, assumed the additional responsibility of chairman.
About Rayonier
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 2.7 million
acres of timber and land in the United States and New Zealand. The
company's holdings include approximately 200,000 acres with
residential and commercial development potential along the
Interstate 95 corridor between Savannah, Ga., and Daytona Beach,
Fla. Its Performance Fibers business is one of the world's leading
producers of high-value specialty cellulose fibers, which are used
in products such as filters, pharmaceuticals and LCD screens.
Approximately 45 percent of the company's sales are outside the
U.S. to customers in approximately 40 countries. Rayonier is
structured as a real estate investment trust. More information is
available at www.rayonier.com.
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