WILDLIGHT, Fla. (News release) -- Rayonier announced the closing of its merger with PotlatchDeltic Corporation. The combined company owns over four million acres of geographically diverse timberland in the United States, and operates six sawmills, an industrial-grade plywood mill, residential and commercial real estate developments, and a rural land sales program.
Mark McHugh, President and Chief Executive Officer of Rayonier, said, "We are excited to close this strategic merger of equals, and we are confident that combining these two exceptional land resources companies will generate meaningful value creation for our shareholders and other stakeholders."
Leadership, Board Composition, and Name
The senior leadership team of the combined company comprises roughly equal representation of top talent from both Rayonier and PotlatchDeltic. The new senior leadership team consists of Mark D. McHugh (President and Chief Executive Officer), Wayne Wasechek (EVP and Chief Financial Officer), Mark R. Bridwell (EVP, General Counsel & Corporate Secretary), Ashlee Townsend Cribb (EVP, Wood Products), W. Rhett Rogers (EVP, Land Resources), Christopher T. Corr (SVP, Real Estate Development), Robert L. Schwartz (SVP and Chief Human Resources Officer), April J. Tice (SVP and Chief Accounting Officer), and Anna E. Torma (SVP and Chief Sustainability Officer).
The new Board of Directors of the combined company consists of five legacy Rayonier directors and five legacy PotlatchDeltic directors, with Eric J. Cremers serving as the Executive Chairman of the Board of Directors and Scott R. Jones serving as the Lead Independent Director. The other eight directors are Mark D. McHugh, Keith E. Bass (Chair of the Compensation and Management Development Committee), Michael J. Covey (Chair of the Nominating and Corporate Governance Committee), Ann C. Nelson (Chair of the Audit Committee), Linda M. Breard, Gregg A. Gonsalves, D. Mark Leland, and Lenore M. Sullivan.
The combined company will initially retain the Rayonier name, and its common stock will trade on the New York Stock Exchange under the ticker symbol "RYN" starting on February 2, 2026. The company intends to announce a new name and ticker symbol later in the first quarter of 2026.
