On Wednesday, timber REIT Plum Creek Timber (NYSE:PCL) announced it has promoted Chief Operating Officer and Executive Vice President Tom Lindquist to the position of president of the company. Henceforth, he shall be both president and COO, responsible for the day-to-day operations and public policy activities of the company.

Rick Holley, Plum Creek's president and CEO since 1994, will remain CEO.

Lindquist has worked for Plum Creek for 12 years, having joined the company in 2001 as executive vice president in charge of real estate. Holley was quoted as saying, "I look forward to continuing to work closely with [Lindquist] over the coming years, as his exceptional combination of expertise and leadership continues to help grow the company."

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