SAN FRANCISCO, May 17, 2018 /PRNewswire/ -- Digital Realty (NYSE: DLR), a leading global provider of data center, colocation and interconnection solutions, announced today the pending departures of Chief Investment Officer Scott Peterson and Senior Vice President of Global Sales & Marketing Dan Papes. Mr. Peterson will step down effective May 31, 2018 and will assist with the transition process on a consulting arrangement through February 2019. His direct reports will report to Chief Executive Officer A. William Stein in the interim while the company identifies a new leader. Mr. Papes has agreed to remain in his role through June 30, 2018 to ensure an orderly transition of his responsibilities while the company identifies a new leader for the global sales and marketing functions, which will permanently report to Chief Financial Officer Andrew P. Power going forward.
"Scott was one of Digital Realty's co-founders, and he has played a key role in executing the strategic acquisitions which have fueled the tremendous growth of our global platform and set the stage for our continued momentum," said Chief Executive Officer A. William Stein. "While we will certainly miss his keen intellect and his quick wit, we wish Scott all the best in his next chapter, and we thank him for his many contributions to Digital Realty – certainly not least the strong team he leaves behind."
"I would also like to thank Dan for his outstanding work leading our sales and marketing efforts," continued Mr. Stein. "In addition to overseeing robust bookings growth, Dan has built a world-class sales and marketing team, and we are confident in the team's ability to drive continued excellent results through the effective model we have deployed while we identify a new leader for our global sales and marketing functions. We appreciate Dan's continuing support of Digital Realty, and we are pleased he has agreed to assist with the transition and remain with the company through the end of the second quarter."
About Digital Realty
Digital Realty supports the data center, colocation and interconnection strategies of more than 2,300 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia and Australia. Digital Realty's clients include domestic and international companies of all sizes, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare and consumer products. https://www.digitalrealty.com/
For Additional Information
Andrew P. Power
Chief Financial Officer
John Christiansen / Lindsay Andrews
Sard Verbinnen & Co.
John J. Stewart / Maria S. Lukens
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions which involve risks and uncertainties which could cause actual outcomes and results to differ materially, including statements related to changes in our management and transition plans. These risks and uncertainties include, among others, the following: reduced demand for data centers or decreases in information technology spending; decreased rental rates, increased operating costs or increased vacancy rates; increased competition or available supply of data center space; the suitability of our data centers and data center infrastructure, delays or disruptions in connectivity or availability of power, or failures or breaches of our physical and information security infrastructure or services; our dependence upon significant customers, bankruptcy or insolvency of a major customer or a significant number of smaller customers, or defaults on or non-renewal of leases by customers; breaches of our obligations or restrictions under our contracts with our customers; our inability to successfully develop and lease new properties and development space, and delays or unexpected costs in development of properties; the impact of current global and local economic, credit and market conditions; our inability to retain data center space we lease or sublease from third parties; difficulty acquiring or operating properties in foreign jurisdictions; our failure to realize the intended benefits from, or disruptions to our plans and operations or unknown or contingent liabilities related to, our recent acquisitions; our failure to successfully integrate and operate acquired or developed properties or businesses; difficulties in identifying properties to acquire and completing acquisitions; risks related to joint venture investments, including as a result of our lack of control of such investments; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings or our breach of covenants or other terms contained in our loan facilities and agreements; our failure to obtain necessary debt and equity financing, and our dependence on external sources of capital; financial market fluctuations and changes in foreign currency exchange rates; adverse economic or real estate developments in our industry or the industry sectors we sell to, including risks relating to decreasing real estate valuations and impairment charges and goodwill and other intangible asset impairment charges; our inability to manage our growth effectively; losses in excess of our insurance coverage; environmental liabilities and risks related to natural disasters; our inability to comply with rules and regulations applicable to our company; our failure to maintain our status as a REIT for federal income tax purposes; our operating partnership's failure to qualify as a partnership for federal income tax purposes; restrictions on our ability to engage in certain business activities; and changes in local, state, federal and international laws and regulations, including related to taxation, real estate and zoning laws, and increases in real property tax rates. For a further list and description of such risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended December 31, 2017 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2018. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Digital Realty