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THE MATHIS REPORT
Daily Record
Rayonier AM CEO Boynton to retire at the end of 2021
JACKSONVILLE
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KAREN BRUNE MATHIS EDITOR
JACKSONVILLE
Two building permits for Costco in St. Johns The wholesale club bought land in World Commerce Center to build the retail warehouse.
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Rayonier Advanced Materials Inc. President and CEO Paul Boynton, 57, will retire at the end of 2021. He will be replaced by Vito Consiglio, 57, who was senior vice president of specialty materials company Ashland Global Holdings Inc. until 2020.
He will be succeeded by former Ashland Global Holdings executive Vito Consiglio. BY MARK BASCH CONTRIBUTING WRITER
Rayonier Advanced Materials Inc. announced Dec. 6 that President and CEO Paul Boynton, 57, will retire at the end of 2021. He will be succeeded by Vito Consiglio, who was senior vice president of specialty materials company Ashland Global Holdings Inc. until 2020. Consiglio, also 57, most recently has been serving as an adviser to private equity firms on deals within the chemical industry, Rayonier AM said. “Having previously been a customer of RYAM’s, I understand the value proposition of its products and see the opportunity to grow demand for its biobased solutions,” Consiglio said in a news release. “Rayonier Advanced Materials is
uniquely positioned in this competitive marketplace with its strong assets, broad product portfolio, and unparalleled technical support,” he said. Boynton has served as CEO of the Jacksonville-based cellulose specialty products company since it split up with Rayonier Inc. in 2014. He had been serving as CEO of the combined company since January 2012. Rayonier AM doubled in size with a 2017 acquisition of Montreal-based Tembec Inc. but the company has struggled to maintain profitably since the split with Rayonier Inc. The company reported a net loss from continuing operations of $21 million in the first nine months of 2021. Boynton will serve as vice chairman of the company’s board of directors until its annual shareholders meeting in May to assist in the transition.
“Having served 10 years as CEO and two decades in executive leadership, I feel this is the right time for change,” Boynton said in the news release. Rayonier AM said the board had been searching for a new CEO after Boynton informed the directors of his plans to retire. “With his broad commercial expertise and operational acumen, Vito has a proven track record of driving strategic growth in the specialty materials sector,” said Lisa Palumbo, chair of the board’s nominating and corporate governance committee, in the release. “Given his strengths in areas of critical importance to RYAM, including strategy deployment, technical sales and innovation, we believe Vito is the ideal CEO to lead RYAM into its next chapter of growth and success,” she said.
St. Johns County issued two permits Nov. 23 totaling almost $13.6 million for Costco Wholesale to build a warehouse club in World Commerce Center. The Gray engineering, design and construction firm in Lexington, Kentucky, will build the 157,317-square-foot wholesale club at a cost of $13.5 million at 215 World Commerce Parkway in St. Augustine. Jones Covey Group Inc. of California will build the fuel facility kiosk at $60,000 at 255 World Commerce Parkway. Costco Wholesale Corp. paid $2.5 million for 17.24 acres Nov. 18. It bought the property from World Commerce Center LLP, led by Jacksonville-based Steinemann & Co. The store will include a tire center, liquor store and gas station. The site is at International Golf Parkway and World Commerce Parkway. World Commerce
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Tapestry Westland Village apartment sold for $65.25M Arlington Collins Road LLC of Birmingham, Alabama, sold the Tapestry Westland Village apartments to Tapestry Westland Village POE, LLC of Tampa on Dec. 2 for $65.25 million. The community at 6505 Collins Road comprises 266 units among 14 buildings on 24.8 acres. The apartments were built in 2020. The price per apartment averaged $245,300. The property’s current taxable value is $41,4 million. Erik Bjornson and Tyler Nilsson of Newmark Knight Frank brokered the deal on behalf of the buyer and the seller.
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