ATLANTA, April 4, 2019 /PRNewswire/ -- CatchMark Timber Trust, Inc. (NYSE: CTT) announced today that Chief Financial Officer Brian M. Davis has been promoted to President and will continue his CFO responsibilities. The announcement was made today by Chief Executive Officer Jerry Barag.
Barag said: "Brian has made outstanding contributions to the growth and success of the company. He is uniquely qualified to fill the role of President based on his industry knowledge, broad-based business acumen, financial expertise, and the strong leadership competencies he has demonstrated throughout his CatchMark career. While he takes on additional management responsibilities for overseeing operations, I will be able to concentrate on broad strategic issues for increasing durable cash flow with a focus on continued growth, creating greater shareholder value, and also ensuring the success of our important Triple T joint venture."
Barag and Davis have worked closely together on developing and executing company strategy since preparing for CatchMark's initial listed public offering in 2013. Barag has more than 35 years of real estate, timberland and investment experience, with expertise in acquisitions, divestitures, asset management, property management and financing. Prior to CatchMark, he served in leadership roles at TimberStar, Lend Lease Real Estate Investments, and Equitable Real Estate Investment Management.
Davis was appointed CatchMark's Chief Financial Officer in March 2013 after serving as Senior Vice President and CFO of Wells Timberland Management Organization. He had joined Wells as a Vice President in 2007 after serving in various senior roles at Atlanta-based SunTrust Bank focusing on capital solutions for middle-market and large-cap corporate clients. Davis has more than 25 years of experience in business and financial services, and has held key roles in finance, treasury, and strategy. He earned a B.B.A. and M.B.A. from Ohio University.
CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 1.6 million acres* of timberlands located in Alabama, Florida, Georgia, North Carolina, Oregon, South Carolina, Tennessee and Texas. For more information, visit www.catchmark.com.
* As of December 31, 2018
SOURCE CatchMark Timber Trust, Inc.