SAN FRANCISCO, April 27, 2017 /PRNewswire/-- Digital Realty (NYSE: DLR), a leading global provider of data center, colocation and interconnection solutions, announced today that Mary Hogan Preusse, a 25-year veteran leader in the REIT industry, will join the company's Board of Directors as an independent director, effective after the annual shareholder meeting on May 8, 2017.
Ms. Hogan Preusse is a highly respected REIT industry leader with a wealth of relevant experience. From 2000-2017, she has worked at APG Asset Management, most recently serving as Managing Director and co-head of Americas Real Estate, and managing all of the firm's public real estate investments in North and South America, totaling over $13 billion in assets. Prior to joining APG, Ms. Hogan Preusse spent eight years as a sell-side analyst covering the REIT sector, and began her career as an investment banking analyst at Merrill Lynch where she participated in numerous REIT IPOs and recapitalizations.
Ms. Hogan Preusse is an independent director of Kimco Realty Corp., a leading shopping center REIT, as well as VEREIT, a diversified full-service real estate operating company. She also serves as a member on the Steering Committee of NAREIT's Investor Advisory Council and is a member of the Real Estate Advisory Board for the Carey Business School at Johns Hopkins University. In 2015, she received the NAREIT E. Lawrence Miller Industry Achievement Award for her contributions to the REIT industry.
Ms. Hogan Preusse graduated from Bowdoin College in Brunswick, Maine with a degree in mathematics and is a member of Bowdoin's Board of Trustees.
"I have enjoyed working with Mary for many years in her role as portfolio manager at APG, one of Digital Realty's largest shareholders, and I know her to be a strategic REIT industry leader and an incisive thinker," said Chief Executive Officer A. William Stein. "We are very pleased to welcome her to the Digital Realty Board of Directors and look forward to continuing to benefit from her insight and advice."
"Mary's deep and diverse experience and her integrity, independence and leadership ability make her a natural addition to our Board as we pursue long-term value creation," said Dennis E. Singleton, Chairman of the Board of Directors. "We are delighted to have Mary join us as we move to our next phase of growth."
"It's a privilege to join the Board of Digital Realty, a company I have long known and admired," said Ms. Hogan Preusse. "I will be honored to serve alongside such accomplished directors and I look forward to actively contributing to the Board of this dynamic REIT at such an important juncture in its evolution."
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 financial services, cloud and information technology services, to manufacturing, energy, gaming, life sciences and consumer products. https://www.digitalrealty.com/
For Additional Information:
Andrew P. Power
Chief Financial Officer
John J. Stewart / Maria S. Lukens
John Christiansen / Scott Lindlaw
Sard Verbinnen & Co
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 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 and 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; the impact of the United Kingdom's referendum on withdrawal from the European Union on global financial markets and our business; 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, 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.
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SOURCE Digital Realty