Colony Credit Real Estate Announces Appointment of New Chief Financial Officer and Treasurer

Rhea-AI Summary

Colony Credit Real Estate, Inc. (NYSE: CLNC) has appointed Frank V. Saracino as the new Chief Financial Officer and Treasurer, effective January 1, 2021. The Board of Directors unanimously approved this decision, recognizing Mr. Saracino's experience as the current Chief Accounting Officer. He will continue to hold both positions, which is expected to enhance financial oversight and leadership within the company, ultimately benefiting its stakeholders.

Positive

• Frank V. Saracino's elevation is expected to strengthen financial oversight.
• Continuity in leadership with Mr. Saracino retaining the Chief Accounting Officer role.

Negative

• None.

Colony Credit Real Estate, Inc. (NYSE: CLNC) (the “Company”) today announced the appointment of Frank V. Saracino as Chief Financial Officer and Treasurer of the Company, effective January 1, 2021.

The Board of Directors of the Company have unanimously approved the appointment of the Company’s Chief Accounting Officer, Frank V. Saracino, 54, as Chief Financial Officer and Treasurer of the Company. Mr. Saracino will continue as the Chief Accounting Officer of the Company. “We are fortunate to have Frank elevate in his role and

FAQ

Who is the new CFO of Colony Credit Real Estate (CLNC)?

Frank V. Saracino has been appointed as the new CFO and Treasurer of Colony Credit Real Estate, effective January 1, 2021.

What position did Frank V. Saracino hold before becoming CFO of CLNC?

Before his appointment as CFO, Frank V. Saracino served as the Chief Accounting Officer of the company.

When will Frank V. Saracino officially start as CFO of CLNC?

Frank V. Saracino will officially begin his role as Chief Financial Officer on January 1, 2021.

What impact does Frank V. Saracino's appointment have on Colony Credit Real Estate (CLNC)?

His appointment is expected to enhance financial oversight and leadership, benefiting the company's stakeholders.