ATLANTA (News release) -- CatchMark Timber Trust, Inc. announced that Brian M. Davis, previously President and CFO, will succeed Jerry Barag as the company's next CEO and join the company's Board of Directors, effective immediately.

Following six successful years in his role, Mr. Barag made the personal decision to retire from the company to pursue other interests. He will be available to Mr. Davis and the Board in a consulting capacity as needed through April 20, 2020. Mr. Barag will also step down from the Board, effective immediately.

Davis was appointed CatchMark's CFO in March 2013 and promoted to President in April 2019. Prior to joining CatchMark, Davis served as Senior Vice President and CFO of Wells Timberland Management Organization. He joined Wells as a Vice President in 2007 after holding various roles at Atlanta-based SunTrust Bank, delivering strategic advisory, capital-raising and financial risk-management solutions to large corporate and middle-market clients. Davis has more than 25 years of experience in business and financial services, and has held key roles in finance, treasury and strategy.

As part of the management transition, Ursula Godoy-Arbelaez, previously Vice President and Treasurer, has been appointed CFO, and Todd P. Reitz, previously Senior Vice President, Forest Resources, has been appointed Chief Resources Officer, effective immediately.

Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 1.5 million acres of timberlands located in Alabama, Florida, Georgia, North Carolina, Oregon, South Carolina, Tennessee and Texas.