Tom Barrack Returns as Colony Capital CEO After Stock Rout
- Founder of predecessor company had been CEO until 2014
- Colony Capital’s shares have plummeted 49% this year
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Tom Barrack, who founded a Colony Capital Inc. predecessor and stepped down as chief executive officer in 2014, is returning to the role following a stock rout that’s cut the investment firm’s market value in half this year.
Former CEO Richard Saltzman has resigned from the position and given up his board seat, Colony said in a statement Wednesday. He’ll remain non-executive chairman of both Colony Credit Real Estate Inc. and NorthStar Realty Europe, which have ties to Colony Capital.