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Stratus Properties Inc. Announces Appointment of Neville L. Rhone, Jr. to Its Board of Directors
AUSTIN, Texas--(BUSINESS WIRE)-- Stratus Properties Inc. (NASDAQ: STRS) announced today the appointment of Neville L. Rhone, Jr. to its Board of Directors
About this update from Stratus Properties Inc.
[{"type":"text","content":" AUSTIN, Texas--(BUSINESS WIRE)--\nStratus Properties Inc. (NASDAQ: STRS) announced today the appointment of Neville L. Rhone, Jr. to its Board of Directors (“Board”). Mr. Rhone will serve as an independent Class II director, effective immediately, and will be up for election to the Board at the 2021 Annual Meeting of Stockholders.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201217005601/en/Neville L. Rhone, Jr. Appointed to Stratus Board. (Photo: Business Wire)\nWilliam H. Armstrong III, Chairman of the Board, President and Chief Executive Officer of Stratus, stated, “We are pleased to welcome Neville Rhone to our Board. Neville is a talented leader and real estate executive with a track record of reimagining urban mixed-use environments as a Co-Founder and Managing Partner of Arc Capital Partners. He also brings his experience with Texas real estate acquisitions. I saw his expertise first-hand when he served as a senior member of the investment team of the Canyon-Johnson Urban Fund that partnered with Stratus in 2007 to provide the equity for our Block 21 project.”\n\nMr. Armstrong continued, “Mr. Rhone’s extensive experience in the areas of real estate development, finance, investments, operations, entrepreneurship and executive leadership will complement our current directors’ mix of skills and expertise, which includes hospitality, entertainment, corporate leadership, commercial real estate investment and development, finance, capital markets, residential real estate and the Austin market. The appointment of Mr. Rhone also reflects our Board’s commitment to increase the diversity of Stratus’ Board, a goal I strongly support.” \n\nMr. Rhone will serve as a member of the Audit Committee and the Nominating and Corporate Governance Committee. Following the appointment of Mr. Rhone, Stratus’ Board of Directors comprises six members, including five independent directors. Stratus’ Nominating and Corporate Governance Committee continues to evaluate a diverse slate of candidates and expects to recommend to the Board another independent director in the near term.\n\nMr. Rhone stated, “I am incredibly excited to join Stratus’ Board. I believe cities, like Austin, will continue to grow and thrive thanks to a younger and more diverse generation that is coming of age, a ke...