CyrusOne (CONE) Announces CEO Transition
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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.
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