Colony Capital Inc. founder Tom Barrack is taking another step back from the investment firm, relinquishing his role as executive chairman. Barrack, 73, who left the chief executive post last year, will retain a director role at the company he founded, while Nancy Curtin, already a Colony director, will become non-executive chairman effective Thursday, the company said in a statement Tuesday. AdvertisementBarrack — executive chairman since the firm’s founding in 1991 — took on other roles during his tenure, including as chair of the inaugural committee for President Trump. Barrack’s plans beyond Colony are already taking shape. As it shrinks the board to 10 members from 12, Colony nominated Microsoft Corp. executive Sháka Rasheed for election.

Source: Los Angeles Times March 30, 2021 22:52 UTC