CyrusOne announces CEO transition

CyrusOne announces CEO transition

CyrusOne Inc. (NASDAQ: CONE), a premier global data center REIT, announced that the Company’s Board of Directors has appointed Tesh Durvasula as President & Chief Executive Officer(CEO). This appointment follows Gary Wojtaszek stepping down as President & Chief Executive Officer, and as a director of the Company, by mutual agreement with the Board effective upon the filing of the Company’s Form 10-K for the fiscal year ended December 31, 2019. Mr. Wojtaszek will provide transition assistance.

Mr. Durvasula will serve as the Company’s President & CEO on an interim basis while the Board undertakes a search to identify the Company’s next CEO, which will include consideration of Mr. Durvasula as well as external candidates.

Alex Shumate, Chairman of the CyrusOne Board, said, “On behalf of the entire Board, I would like to thank and recognize Gary Wojtaszek for his strong leadership and vision that has enabled CyrusOne to become one of the largest and most successful data center companies in the world. Under Gary’s leadership, the company has grown to nearly $1 billion in revenue, expanded into Europe, Asia and Latin America, achieved an investment grade credit rating, and had a stock price that outperformed its public data center peers, as well as both the RMZ and S&P 500 indexes, since the Company’s IPO in January 2013.”

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Mr. Shumate continued, “Tesh is an industry veteran with over 20 years of experience in fiber optics, interconnection and data centers. During his more than 7 years at CyrusOne, including serving as Chief Commercial Officer and his most recent role as President of Europe, Tesh has demonstrated that he is a strong and dynamic leader who is customer focused and knows our business well. He has worked closely with our teams across the company to execute our strategy and deliver results. We are confident that Tesh’s experience positions him well to lead the Company as our CEO during this transition.”

Mr. Durvasula said, “I know that I speak for everyone at CyrusOne in thanking Gary for his strong leadership and vision. Over the years, Gary has helped create a strong company culture at CyrusOne focused on excellent customer service and delivering shareholder value, which will remain unchanged.”

Mr. Wojtaszek added, “It has been a tremendous journey and privilege to serve as the CEO and a Board member of CyrusOne since its IPO and spin-off from Cincinnati Bell. From helping take the company public, to expanding overseas and emerging as one of the top data center companies in the world, I am incredibly proud of what we have accomplished and the culture we have created. I believe in the mission of CyrusOne, I have confidence in Tesh and the team, and look forward to seeing the company continue to succeed and expand.”

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