JACKSONVILLE, Fla.--(BUSINESS WIRE)--May. 17, 2012-- Rayonier Inc. (NYSE:RYN) hosted its Annual Meeting of Shareholders today at 4 p.m. in Jacksonville, Fla.

At the meeting, shareholders elected the following directors to the board:

• Richard D. Kincaid, V. Larkin Martin, James H. Miller and Ronald Townsend; each for three-year terms, expiring in 2015
• Thomas I. Morgan, one-year term, expiring in 2013

Shareholders also approved the following management-sponsored proposals:

• Amendments to the company’s Articles of Incorporation to remove the board’s classified structure and increase the number of authorized common shares
• Amendments to the Rayonier Incentive Stock Plan to increase the number of shares available and reapprove the material terms of performance-based awards

An annual advisory vote approving the compensation of Rayonier’s named executive officers also received strong shareholder support.

As planned, Lee Thomas retired from the board of directors at the end of the meeting, and Paul Boynton, Rayonier’s president and CEO, assumed the additional responsibility of chairman.

About Rayonier

Rayonier is a leading international forest products company with three core businesses: Forest Resources, Real Estate and Performance Fibers. The company owns, leases or manages 2.7 million acres of timber and land in the United States and New Zealand. The company's holdings include approximately 200,000 acres with residential and commercial development potential along the Interstate 95 corridor between Savannah, Ga., and Daytona Beach, Fla. Its Performance Fibers business is one of the world's leading producers of high-value specialty cellulose fibers, which are used in products such as filters, pharmaceuticals and LCD screens. Approximately 45 percent of the company's sales are outside the U.S. to customers in approximately 40 countries. Rayonier is structured as a real estate investment trust. More information is available at www.rayonier.com.

Source: Rayonier Inc.

Rayonier Inc.
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