BOSTON, Feb. 28 /PRNewswire-FirstCall/ -- Iron Mountain Incorporated (NYSE: IRM), the global leader in information protection and storage services, today announced that Bob Brennan, the Company's President and Chief Operating Officer, will succeed Richard Reese as Iron Mountain's Chief Executive Officer. Reese notified the Company's Board of Directors ("Board") of his intention to step down as CEO, a position he has held since December 1981, at Iron Mountain's Annual Meeting of Stockholders on June 5, 2008 to become the Company's first Executive Chairman of the Board. Brennan will continue in his role as President, and will report directly to the Board. The Board also announced its intention to nominate Brennan to stand for election to the Board at the Annual Meeting in June. (Photo: http://www.newscom.com/cgi-bin/prnh/20080228/NETH034 ) "This transition represents a natural evolution of the senior leadership at Iron Mountain. I have been discussing a succession plan with the Board and I feel that now is the appropriate time to implement it. Bob has been a leading candidate for the CEO position since he joined the Company in 2004," Reese said. "He has a strong background in technology and logistics and an excellent track record of building successful senior executive teams. Bob has proven himself as a strong leader within our Company and is committed to enhancing our culture and driving long-term success at Iron Mountain. I am confident that Bob's appointment as CEO will enhance our ability to pursue our strategic agenda." Brennan, 47, joined Iron Mountain as President of North America in November 2004 in connection with the Company's acquisition of Connected Corporation, where he served as Chairman and CEO. He was named President and Chief Operating Officer in December 2005. "Bob emerged as the leading candidate to fill this position shortly after joining the Company and has effectively been transitioning into this role for the past two years," continued Reese. "He has all the characteristics the Board and I were looking for in Iron Mountain's next CEO. He has learned the business very quickly from the inside, he's a great leader who cares deeply about the employees and customers and he always 'flies the mission.'" "I have tremendous respect for what Richard and the Iron Mountain team have built over the last 26 years," said Brennan. "We have become vital to businesses as they wrestle with the overwhelming task of compliant records management in a world of exploding information and escalating regulation. This is a great business, and Iron Mountain is uniquely positioned to capture the tremendous opportunity in the market today. I am very excited at the prospect of leading this Company through the next phase of its growth and development and I look forward to continuing my partnership with Richard as he assumes his new role in the Company." As Executive Chairman, a full time position reporting to the Board, Reese, 61, will focus on driving the Company's new services agenda and advising the CEO on strategy and other matters of the business while continuing to perform his duties as Chairman of the Company's Board of Directors. Iron Mountain's conference call to discuss its fourth quarter and full year 2007 financial results along with the details of this leadership transition, will be held today at 11:00 a.m. Eastern Time. In order to further enhance the overall quality of its investor communications, the Company will simulcast the conference call on its Web site at http://www.ironmountain.com, the content of which is not part of this release. Details regarding the conference call are attached below. About Iron Mountain Iron Mountain Incorporated (NYSE: IRM) helps organizations around the world reduce the costs and risks associated with information protection and storage. The Company offers comprehensive records management and data protection solutions, along with the expertise and experience to address complex information challenges such as rising storage costs, litigation, regulatory compliance and disaster recovery. Founded in 1951, Iron Mountain is a trusted partner to more than 100,000 corporate clients throughout North America, Europe, Latin America and Asia Pacific. For more information, visit the Company's Web site at http://www.ironmountain.com. Forward Looking Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws, and is subject to the safe-harbor created by such Act. Forward-looking statements include statements regarding our goals, beliefs, future growth strategies, investments, objectives, plans or current expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those contemplated in the forward-looking statements. These risks and uncertainties are described more fully in the Company's most recently filed Annual Report on Form 10-K under "Item 1A. Risk Factors". Except as required by law, Iron Mountain undertakes no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Conference Call Information A conference call has been scheduled to discuss the Company's fourth quarter and full year 2007 financial results along with the details of this leadership transition and a taped replay of the conference call will be available shortly after the end of the call. Call and replay information are as follows:
Call Date: Thursday, February 28, 2008 Call Time: 11:00 A.M. (Eastern Time) Call Hosts: Stephen Golden, Vice President, Investor Relations Richard Reese, Chairman & CEO Brian McKeon, CFO Domestic Call Dial In: 800-591-6945 International Dial In: 617-614-4911 Participant Passcode: 73921626# Online Info: http://www.ironmountain.com at the Investor Relations page Live Simulcast (listen only) available during the call. Replay available one hour after the conclusion of the call for one week.
Replay Domestic Dial In: 888-286-8010 Replay International Dial In: 617-801-6888 Replay Access Code: 48939836# Investor Relations Contact: Media Contact: Stephen P. Golden Melissa Mahoney Vice President, Vice President, Investor Relations Corporate Communications firstname.lastname@example.org email@example.com (617) 535-2994 (617) 535-8310
SOURCE Iron Mountain Incorporated