CyrusOne Announces Bruce W. Duncan as President & CEO
June 29 2020 - 9:00AM
Business Wire
CyrusOne Inc. (NASDAQ: CONE), a premier global data center REIT,
today announced that CyrusOne’s Board of Directors has elected
Bruce W. Duncan as President & Chief Executive Officer and as a
member of the Board of Directors, effective July 6, 2020. Mr.
Duncan succeeds Tesh Durvasula, who has served as CyrusOne’s
interim President & Chief Executive Officer since February 20,
2020. Mr. Durvasula will work with Mr. Duncan to ensure a smooth
leadership transition.
Alex Shumate, Chairman of the CyrusOne Board, said, “Bruce is a
proven real estate executive with decades of experience as a REIT
CEO and public company director. We are confident that Bruce is the
right person to lead the Company in our strategic execution,
continued growth, and international expansion.”
Mr. Duncan has more than 40 years of diverse real estate
management, development, and global investment experience across
numerous property types. He has had an extraordinary and successful
track record as CEO and Director of multiple public companies:
Cadillac Fairview Corporation, Equity Residential, Starwood Hotels
& Resorts Worldwide, Inc., and First Industrial Realty Trust,
Inc. He currently serves as Chair of the Board of First Industrial
Realty Trust, Inc. and serves on the Boards of Marriott
International Inc. and Boston Properties, Inc.
Mr. Duncan said, “I am excited to join CyrusOne, one of the top
performing REITs since its inception, to help lead the Company’s
global expansion and deepen our partnerships with an incredible
roster of customers. CyrusOne is an industry leader because of an
extraordinary team of professionals who are passionate about
developing innovative solutions to support the significant demand
for data center infrastructure. I look forward to joining the
Company and being a part of its continued success.”
Mr. Shumate continued, “On behalf of the entire Board, I would
like to thank and recognize Tesh for his contributions over the
last eight years, including his recent leadership as interim
President & Chief Executive Officer. We were fortunate to have
an executive of Tesh’s caliber step up, particularly during these
challenging times. We wish Tesh the best of luck in his future
endeavors.”
Mr. Durvasula added, “It has been my privilege to lead CyrusOne,
and I am proud of our accomplishments, especially in the way our
team rallied together during these last few eventful months.
CyrusOne has a tremendous track record, and I have no doubt that
the Company will continue to succeed and reach new heights in the
years ahead.”
Safe Harbor
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. 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 we operate
and the beliefs and assumptions of our management as of the date of
this press release. 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 our future financial performance or operations,
our anticipated growth and trends in our and our customers’
respective businesses and industries, 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 our 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 the
Company’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.
About CyrusOne
CyrusOne (NASDAQ: CONE) is a real estate investment trust (REIT)
specializing in highly reliable enterprise-class, carrier-neutral
data center properties. The Company provides mission-critical data
center facilities that protect and ensure the continued operation
of IT infrastructure for approximately 1,000 customers, including
more than 200 Fortune 1000 companies.
With a track record of meeting and surpassing the aggressive
speed-to-market demands of hyperscale cloud providers, as well as
the expanding IT infrastructure requirements of the enterprise,
CyrusOne provides the flexibility, reliability, security, and
connectivity that foster business growth. CyrusOne offers a
tailored, customer service-focused platform and is committed to
full transparency in communication, management, and service
delivery throughout its nearly 50 data centers worldwide.
Additional information about CyrusOne can be found at
www.CyrusOne.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200629005185/en/
Investor Relations Michael Schafer Vice President,
Capital Markets & Investor Relations 972-350-0060
investorrelations@cyrusone.com
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