Drive Shack Inc. announced that effective as on November 12, 2018, Ms. Sarah L. Watterson departed as the Company's Chief Executive Officer and President and was appointed as a member of the Board. Ms. Watterson will serve as a Class III director until the 2020 Annual Meeting of Stockholders, and until her successor is duly elected and qualified. Effective November 12, 2018, Lawrence A. Goodfield Jr. ceased to serve as the Company's Chief Financial Officer, but will continue to serve as the Company's Chief Accounting Officer and Treasurer.

Mr. Kenneth A. May will serve as a Class I director until the 2021 Annual Meeting of Stockholders, and until his successor is duly elected and qualified.