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Newcastle Investment names new executive team

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Newcastle Investment names new executive team

A new leadership team has been named at

The company's board appointed Sarah Watterson, a managingdirector in the private equity group of the Fortress Investment Group LLC-affiliated , as president and CEO.Watterson currently oversees Newcastle's golf business.

Lawrence Goodfield Jr. was named CFO, chief accountingofficer and treasurer. He was previously senior vice president and controllerat W. P. Carey Inc.Sara Yakin, who has worked in Fortress' private equity group since 2013, wasnamed COO.

The three positions are effective Sept. 26, also the effectivedate of their predecessors' resignation.

Kenneth Riis, who formerly served as president and CEO,retired from those positions but will continue to serve as a board member.Justine Cheng resigned as CFO, COO and treasurer; Eun Nam resigned as interimchief accounting officer; and Randal Nardone resigned as secretary.

Nam will continue as a vice president at FIG, while Nardonewill continue to serve as CEO, principal and director at Fortress.