SAN FRANCISCO, July 11, 2016 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data center, colocation and interconnection solutions, announced today that its Board of Directors has unanimously approved the appointment of current Digital Realty Board member Laurence A. Chapman as Vice Chairman of the Board, effective immediately.
"Laurence's strategic and financial expertise has been integral to Digital Realty's growth and continued success, and we have all benefited from his many contributions," said Dennis E. Singleton, Chairman of the Board of Directors. "We are pleased to expand Laurence's duties as part of the Board's ongoing commitment to sound corporate governance practices and longer-term succession planning, which is designed to ensure stability and continuity at the Board level as well as within the management ranks. The Board expects to appoint Laurence as Chairman of the Board at its next annual meeting in May 2017. Laurence will continue to play key roles on the Board's audit and compensation committees, and we look forward to his ongoing leadership."
"I am honored to serve in this new role as Vice Chairman, appointed by fellow Board members whose deep commitment to Digital Realty has positioned the company to excel now and well into the future," said Mr. Chapman. "I look forward to increasing my contributions to the company in this new capacity and continuing to provide leadership and working with management to implement innovative data center solutions for our customers for years to come."
For Additional Information:
Andrew P. Power
Chief Financial Officer
Digital Realty Trust, Inc.
John J. Stewart / Maria S. Lukens
Digital Realty Trust, Inc.
John Christiansen / Lindsay Andrews
Sard Verbinnen & Co.
About Digital Realty
Digital Realty Trust, Inc. supports the data center and colocation strategies of firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia and Australia. Digital Realty's clients include global companies of all sizes, ranging from financial services, cloud and information technology services, to manufacturing, energy, gaming, life sciences and consumer products. www.digitalrealty.com
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the appointment of our vice chairman, our corporate governance and succession planning strategy, expected timing for future Board appointments and/or elections and our expected Board committee composition. These risks and uncertainties include, among others, the following: the impact of current global economic, credit and market conditions; current local economic conditions in the metropolitan areas in which we operate; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing; 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; financial market fluctuations; changes in foreign currency exchange rates; our inability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully integrate and operate acquired or developed properties or businesses; the suitability of our properties and data center infrastructure, delays or disruptions in connectivity, failure of our physical or information security infrastructure or services or availability of power; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development of properties; decreased rental rates, increased operating costs or increased vacancy rates; increased competition or available supply of data center space; our inability to successfully develop and lease new properties and development space; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; our inability to comply with the rules and regulations applicable to reporting companies; our failure to maintain our status as a REIT; possible adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of our insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including changes in 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, 2015 and Quarterly Report on Form 10-Q for the quarters ended March 31, 2016. 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 Trust, Inc.