Colony Capital to explore reorganization

Colony Capital announced a series of changes designed to enhance its corporate governance. The company has worked collaboratively with Blackwells Capital, a stockholder of the company, and has entered into a cooperation agreement with Blackwells under which two new independent directors, Raymond Mikulich and Craig Hatkoff, are appointed to the board of directors, effectively immediately.

“Both Ray and Craig bring valuable real estate and finance experience as well as new perspectives to our Board, and their skills and experiences complement the diverse skillsets and backgrounds of our current Board members,” said Thomas Barrack, Jr., executive chairman and CEO of Colony Capital

In conjunction with these appointments, the board formed a strategic asset review committee. The committee will be tasked with reviewing, evaluating and making recommendations to the board on issues related to the company’s assets and business configuration.

Mikulich has significant