CyrusOne Announces CEO Transition
July 28 2021 - 4:05PM
Business Wire
Director David Ferdman, Company Co-founder and
former CEO, to act as interim President & CEO
Bruce Duncan and Company to separate
CyrusOne, a premier global data center REIT, today announced the
appointment of company Director David (“Dave”) Ferdman, the
Company’s co-founder and former CEO, as interim President &
Chief Executive Officer effective immediately following the filing
of CyrusOne’s Form 10-Q for the fiscal quarter ended June 30, 2021
(the “Transition Date”). This appointment follows the Board of
Directors separating with Bruce Duncan as President & Chief
Executive Officer, and his resignation as a Director of the
Company, effective on the Transition Date. Mr. Ferdman will serve
until a successor is identified and will remain a member of the
Board of Directors.
Lynn Wentworth, Chair of the CyrusOne Board, said, “Dave
co-founded CyrusOne, was our CEO until 2010, and has remained
continuously engaged with the Company in various roles, including
serving on the Board of Directors since 2013. As our Interim
President & Chief Executive Officer, Dave brings to the team
decades of industry experience, dynamic leadership, and a deep
understanding of our business. We are confident Dave will lead our
company forward towards achieving its plan and objectives during
this transition period. On behalf of the entire Board, I would like
to thank Bruce Duncan for his leadership over the past year, and we
wish him well in his future endeavors.”
“CyrusOne is a world-class organization with a track record of
delivering flexible, reliable, and scalable data center solutions
for our customers in key digital gateway markets in the United
States and Europe,” said Dave Ferdman, interim President & CEO,
CyrusOne. “I look forward to working with our team as we execute on
our plan and create shareholder value, while working with the Board
to evaluate potential successors.”
As announced, the company will hold its second quarter 2021
results conference call at 11:00 AM Eastern Time (10:00 AM Central
Time) on Thursday, July 29, 2021. Dave Ferdman and Katherine
Motlagh, Chief Financial Officer, will review the company’s
financial performance for the period.
About CyrusOne
CyrusOne (NASDAQ: CONE) is a premier global REIT specializing in
design, construction and operation of more than 50 high-performance
data centers worldwide. The company provides mission-critical
facilities that ensure the continued operation of IT infrastructure
for approximately 1,000 customers, including approximately 200
Fortune 1000 companies. A leader in hybrid-cloud and multi-cloud
deployments, CyrusOne offers colocation, hyperscale, and
build-to-suit environments that help customers enhance the
strategic connection of their essential data infrastructure and
supporting achievement of sustainability goals. CyrusOne data
centers offer world-class flexibility, enabling clients to
modernize, simplify, and rapidly respond to changing demand.
Combining exceptional financial strength with a broad global
footprint, CyrusOne provides customers with long-term stability and
strategic advantage at scale.
Safe Harbor Note
This press release contains forward-looking statements which are
based on current expectations, forecasts and assumptions that
involve risks and uncertainties that could cause actual outcomes
and results to differ materially. All statements, other than
statements of historical facts, are statements that could be deemed
forward- looking statements. These statements are based on current
expectations, estimates, forecasts, and projections about the
industries in which the Company operates and the beliefs and
assumptions of the Company’s management. Words such as “expects,”
“anticipates,” “predicts,” “projects,” “intends,” “plans,”
“believes,” “seeks,” “estimates,” “continues,” “endeavors,”
“strives,” “may,” variations of such words and similar expressions
are intended to identify such forward-looking statements. In
addition, any statements that refer to projections of the Company’s
future financial performance, the Company’s anticipated growth and
trends in the Company’s businesses, and other characterizations of
future events or circumstances are forward-looking statements.
Readers are cautioned these forward-looking statements are based on
current expectations and assumptions that are subject to risks and
uncertainties, which could cause the Company’s actual results to
differ materially and adversely from those reflected in the
forward-looking statements. More information on these risks and
uncertainties and other potential factors that could affect the
Company’s business and financial results is included in CyrusOne’s
filings with the U.S. Securities and Exchange Commission, including
in the “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections of the
Company’s most recently filed periodic reports on Form 10-K and
Form 10-Q and subsequent filings. The Company disclaims any
obligation other than as required by law to publicly update or
revise any forward-looking statement to reflect changes in
underlying assumptions or factors or for new information, data or
methods, future events or other changes.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210728006004/en/
Investor Relations Michael Schafer Vice President, Capital
Markets & Investor Relations 972-350-0060
investorrelations@cyrusone.com
CyrusOne (NASDAQ:CONE)
Historical Stock Chart
From Mar 2024 to Apr 2024
CyrusOne (NASDAQ:CONE)
Historical Stock Chart
From Apr 2023 to Apr 2024