>>3783626 (LB)

Colony Capital's CEO departs; Tom Barrack reassumes CEO role

In mutual agreement with the board, Colony Capital (NYSE:CLNY) CEO Richard Saltzman resigns as CEO and director and will be succeeded by Chairman Thomas Barrack, who founded Colony in 1991.

CLNY -1.6% in premarket trading.

Saltzman will remain non-executive chairman of Colony Credit Real Estate (OTC:CNLC) and NorthStar Realty Europe (NYSE:NRE), which are externally managed by subsidiaries of Colony Capital.

Colony's current CFO, Darren Tangen, will become president, effective immediately, and will resign as CFO as of Jan. 1, 2019.

COO Mark Hedstrom will assume the additional role of CFO.

In connection with CLNY's exit of certain non-core business lines and as part of a restructuring plan, Colony Capital will take a series of steps expected to cut total annual G&A costs by $50M-$55M over the next 12 to 18 months.

Previously: Colony Capital beats by $0.03, beats on revenue (Nov. 7)

https://seekingalpha.com/news/3406444-colony-capitals-ceo-departs-tom-barrack-reassumes-ceo-role

What do we know about Tom Barrack? Relevant or not?

Q can you confirm, BARRACK = Tom Barrack, or look elsewhere?

>>3783732

Notable

Potential Barrack Meaning

>>3783933

Thanks for the dig anon!

>>3783933

Also connections to Haiti and Saudi Arabia, Kushner as well. Hmmm.

Trump is hanging out with these billionaire friends to watch the midterm returns

Some of the GOP's top financiers including Dallas investor Tommy Hicks Jr., oil tycoon Harold Hamm, CEO of Blackstone behemoth Steve Schwarzman, Las Vegas Sands CEO Sheldon Adelson and 2020 Trump campaign manager Brad Parscale were all invited to join the president at the White House for dinner and an election viewing party, according to sources with direct knowledge of the matter.

Tom Barrack, executive chairman of real estate investment firm Colony Capital and former Trump inauguration chair, went to the White House for the party, according to a source with direct knowledge of the matter.

Hamm, Hicks, Adelson and Parscale all made it to the event, the sources said. A spokeswoman for Schwarzman later confirmed that he attended.

The White House and representatives for the party attendees did not return requests for comment.

All of the executives have played a role this election season in trying to help Republicans maintain their majorities in the U.S. House and Senate in the lead up to the 2018 midterm election.

https://www.cnbc.com/2018/11/06/trump-surrounds-himself-with-war-counsel-at-midterm-viewing-party.html

Barrack

Think we found the connection.

>>3784222

>All of the executives have played a role this election season in trying to help Republicans maintain their majorities in the U.S. House and Senate in the lead up to the 2018 midterm election.

Definitely