Colony Capital Reaches Cooperation Agreement with Blackwells Capital
LOS ANGELES–(BUSINESS WIRE)–Colony Capital Inc. (“Colony Capital” or the “Company”) (NYSE: CLNY) today announced that it has reached a cooperation agreement with Blackwells Capital (“Blackwells”), which owns approximately 2% of the Company’s outstanding common stock.
Pursuant to the agreement, Colony Capital will nominate Jeannie Diefenderfer to stand for election to the Company’s Board of Directors (the “Board”) at the 2020 Annual Meeting of Stockholders (the “Annual Meeting”). Following the Annual Meeting, Colony Capital’s Board will continue to comprise 12 directors, of whom 11 are independent.
“We are pleased to have reached an agreement, and appreciate that Blackwells has affirmed its support of our strategy, Board and management team,” said Nancy Curtin, Colony Capital’s Lead Independent Director. “With an extensive background in digital investing and digital real estate, Jeannie adds a highly complementary skill set, diversity and relevant experience that will further enhance our oversight of management’s ongoing successful implementation of its digital strategy. We are confident that Jeannie’s expertise and perspective will be additive to our ongoing mission to generate long-term, sustainable value for stockholders.”