Richard Reese
to Retire from the Company after 31 Years
Al Verrecchia
to Become Chairman of the Board in March
BOSTON--(BUSINESS WIRE)--Dec. 3, 2012--
Iron
Mountain Incorporated (NYSE: IRM), the information storage and
management company, today announced that its Board of Directors has
voted unanimously to appoint
William Meaney President
and Chief
Executive Officer and a member of the Board, effective Jan. 7, 2013. He
will succeed longtime Executive Chairman and CEO
Richard Reese
, who
announced his intention to retire after 31 years at the Company.
William Meaney
, 52, will become president and CEO of information storage and management company Iron Mountain on Jan. 7, 2013. (Photo: Business Wire)
Meaney, 52, comes to Iron Mountain with more than 20 years of experience
successfully overseeing diverse businesses in the United States, Europe,
Asia and Africa. His track record over this time reveals a proven
ability to drive growth even in challenging environments and maximize
returns on investment in capital intensive businesses. Most recently,
Meaney served as CEO of the Hong Kong-based Zuellig Group, a $12
billion, primarily business-to-business conglomerate that saw sales
triple during his eight-year tenure from 2004-2012.
Prior to leading The Zuellig Group, Meaney spent five years in the
airline industry, serving as the Chief Commercial Officer and Managing
Director of publicly-traded Swiss International Airlines from December
2002 to January 2004 and Executive Vice President of South African
Airways from 1998 to 2001. Meaney helped lead both airlines through
challenging times and eventual turnarounds that netted higher
profitability and improved returns on capital.
Earlier in his career, Meaney served as the acting CEO of South African
Vaccine Producers; the Founder and Managing Director of Genhro
Management Consultancy; and a principal of Strategic Planning
Associates, now part of the Oliver Wyman Group. Meaney currently serves
on the board of Qantas Airways Limited. He is a trustee of both
Rensselaer Polytechnic Institute and Carnegie Mellon University, where
he earned his bachelor’s in mechanical engineering and a master’s in
industrial administration, respectively.
Commenting on his appointment, Meaney said, “This is an exciting
opportunity for me. Iron Mountain is a global market leader with a
compelling customer value proposition and a large market opportunity.
What’s more, the Company is executing on a strong financial strategy to
drive returns on invested capital and return excess capital to
shareholders that I believe is right for both the business and
investors. I look forward to working with the Board, management team,
and our talented employees to deliver outstanding services to our
customers and drive value for shareholders.”
Iron Mountain’s Board also announced that
Al Verrecchia
, lead
independent director, will succeed Reese as Chairman of the Board
effective in March 2013, when Reese will also retire from the Board. The
Board believes that separating the chairman and CEO roles at this time
represents the best leadership structure for the Company and is
consistent with best practices for corporate governance. Verrecchia
joined Iron Mountain’s Board of Directors in March 2010. He has also
served as Chairman of the Board at Hasbro Inc. since 2008.
“Bill’s extensive global operations experience in both services and
logistics-based businesses is key to expanding our market leadership
position in North America, as well as growing our international
business, particularly in emerging markets,” said
Al Verrecchia
,
Chairman-elect of the Iron Mountain Board of Directors. “Moreover, Bill
possesses keen financial acumen, has proven to be a collaborative team
leader, and is committed to Iron Mountain’s goal to deliver shareholder
returns for the long-term.”
Reese also commented on Meaney’s appointment: “Bill is an accomplished
leader with an impressive track record for driving top-line growth and
bottom-line returns. He has shown an innate sense for the business and
shares the board’s vision for investing capital in a disciplined manner
to drive returns over the long-term. For these reasons and more, I know
Iron Mountain is in good hands. I’m very proud to have been part of
building this tremendous organization working alongside an amazing team,
and I’m excited to watch the Company move on to its next phase of
success.”
On behalf of the Board, Verrecchia thanked Reese for his service. “In
addition to welcoming Bill, we’d like to recognize Richard for the
leadership and vision he’s provided the Company for more than 30 years,”
said Verrecchia. “He’s been a remarkable leader and a true icon in the
information storage and management industry. We thank him for all he’s
done and the indelible mark he’s made on the Company.”
Reese served as CEO from December 1981 to June 2008 and returned as CEO
in April 2011. He also served as Chairman beginning in 1995 and as
Executive Chairman since June 2008. During his tenure, he grew the
business from a regional provider with $3 million in annualized revenues
to a global leader in information management and storage with more than
$3 billion in sales.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of
information storage and management solutions. The Company’s real estate
network of 64 million square feet across nearly 1,000 facilities in 32
countries allows it to serve customers around the world. And its
solutions for records
management, data
backup and recovery, document
management, and secure
shredding help organizations to lower storage costs, comply with
regulations, recover from disaster, and better use their information for
business advantage. Founded in 1951, Iron Mountain stores and protects
billions of information assets, including business documents, backup
tapes, electronic files and medical data. Visit www.ironmountain.com
for more information (the content of which is not a part of this press
release).
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20121203005605/en/
Source: Iron Mountain Incorporated
Iron Mountain Incorporated
Investor Relations Contact:
Stephen
P. Golden, 617-535-2994
Vice President, Investor Relations
sgolden@ironmountain.com
or
Media
Contact:
Dan O’Neill, 617-535-2966
Director, Corporate
Communications
dan.oneill@ironmountain.com