- After almost 10 years in the position
- Praise and thanks for Nunes
- Mark McHugh taking over
- Nunes said 113 words
(exechange) — Wildlight, Florida, November 1, 2023 — Dave Nunes, chief executive of Rayonier, leaves his position. As announced by Rayonier Inc. in a news release on Wednesday, November 1, 2023, David L. (Dave) Nunes leaves his post as chief executive officer at the timberland real estate investment trust, after almost 10 years in the role, effective March 31, 2024.
Dave Nunes’s duties as CEO will be taken over by Mark D. McHugh, currently President and Chief Financial Officer at Rayonier Inc.
“Multi-year succession planning process”
The planned management change is explained as follows. Rayonier stated: “David Nunes will be retiring as Chief Executive Officer and a member of the Board, effective March 31, 2024. Pursuant to a multi-year succession planning process led by the Board of Directors, Mark McHugh, currently President and Chief Financial Officer, will become CEO and join the company’s Board at that time.”
Precise information regarding Dave Nunes’s future plans was not immediately available.
Share price decline since November 2018
The announcement follows a decline in Rayonier Inc.’s share price of 19% since November 2018.
In the position of CEO since 2014
Dave Nunes became CEO of the Company in 2014.
Dave Nunes has more than three decades of timber industry experience, and today serves as Chief Executive Officer.
Dave Nunes joined Rayonier in June 2014 as Chief Operating Officer, and shortly thereafter assumed the additional role of President and CEO following Rayonier’s spin-off of its Performance Fibers business.
Prior to joining Rayonier, he served as President and CEO of Pope Resources/Olympic Resource Management from 2002 to 2014.
He joined Pope Resources in 1997 as director of portfolio management, working with third-party investors and timberland owners to develop and manage timberland investment portfolios.
The following year, he was named Vice President of Portfolio Development, and then served two years as Senior Vice President of Acquisitions and Portfolio Development before being named President and COO in 2000.
Previously, Dave Nunes spent nine years with Weyerhaeuser Company, joining the organization in 1988 as a business analyst and advancing through a number of leadership roles to become Director of Corporate Strategic Planning.
During his time with Weyerhaeuser, he gained extensive experience involving export log sales and marketing, timberland acquisitions, mergers and acquisitions, and capital planning.
Dave Nunes began his career in the forest products industry in 1979 with the Seattle-Snohomish Mill Company where he worked in both sawmill operations and lumber sales capacities.
Dave Nunes serves as a Trustee on the Pomona College Board of Trustees.
He holds a Bachelor of Arts in Economics from Pomona College and an MBA from the Tepper School of Business at Carnegie Mellon University.
113 words by Dave Nunes
In the release announcing his departure as CEO of Rayonier Inc., Dave Nunes received praise and thanks.
In announcing his departure, Dave Nunes said 113 words.
“Diligence and integrity”
Dave Nunes stated: “Serving as Rayonier’s CEO over the past nine years has been extremely fulfilling. We emerged from the spin-off of our specialty pulp manufacturing business to become the leading pure-play timber REIT, growing the size and quality of our timberland portfolio while also launching a successful real estate development business. I’m very proud of the culture that we’ve built at Rayonier and very excited about the growth opportunities that lie ahead for the company and its next generation of leadership. Mark’s strategic and financial acumen, as well as his diligence and integrity, have made him a valued partner to me over the years. I believe Rayonier is well positioned to prosper under his leadership.”
Push-out Score for Dave Nunes’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Dave Nunes was pushed out or felt pressure to leave his position.
exechange reached out to Rayonier and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 45.2023 ($).