BOSTON, Apr 14, 2011 (BUSINESS WIRE) --
Iron Mountain Incorporated (NYSE: IRM), the information management
company, today announced that Richard Reese, Chairman of the Iron
Mountain Board of Directors, has been appointed Chief Executive Officer,
effective immediately. Mr. Reese has served as Chairman of the Board
since 1995 and was Iron Mountain's Chief Executive Officer from 1981 to
2008. He replaces Bob Brennan, who is stepping down as President and
Chief Executive Officer. Mr. Brennan has also resigned as a director of
the Company.
"On behalf of the Board of Directors, I would like to thank Bob for his
many contributions to Iron Mountain since joining the Company in
November 2004. Bob has successfully built on the Company's long track
record of solid performance and improving results," said Kent Dauten,
Lead Director of Iron Mountain's Board. "Our Board and management team
have been diligently working on a three-year plan to drive returns and
enhance stockholder value, focused on operating strategy, capital
allocation discipline and commitment to returning cash to stockholders.
As we move forward with the execution of our business plan, Bob and the
Board agreed that the time is right to make this transition. We are
confident that Richard's deep operational expertise and knowledge of our
business will be instrumental to our success. We wish Bob all the best
in his future endeavors."
Mr. Reese commented, "I am honored to have the opportunity to lead this
organization and work once again with the talented group of people at
Iron Mountain, as we continue to build value for our customers and
stockholders alike. I look forward to discussing our plan with
stockholders in the near future."
Mr. Brennan commented, "Iron Mountain has great employees, who are
dedicated to serving customers by treating customers' information as if
it were their own. I am proud of what we have accomplished together and
confident in the Company's plan and future prospects."
Richard Reese Bio
Mr. Reese has been an Iron Mountain director since 1990. He has served
as Chairman of the Board since 1995 and Chief Executive Officer from
1981 to 2008. Mr. Reese is a member of the investment committee of
Schooner Capital LLC. He is also a director of Charles River
Laboratories, Inc., a publicly held company. He holds both Bachelor and
Master of Science degrees in engineering from Clemson University and a
Master of Business Administration degree from Harvard Business School.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) provides information management
services that help organizations lower the costs, risks and
inefficiencies of managing their physical and digital data. The
company's solutions enable customers to protect and better use their
information--regardless of its format, location or lifecycle stage--so
they can optimize their business and ensure proper recovery, compliance
and discovery. Founded in 1951, Iron Mountain manages billions of
information assets, including business records, electronic files,
medical data, emails and more for organizations around the world. Visit www.ironmountain.com
for more information.
SOURCE: Iron Mountain Incorporated
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