Digital Realty to Bid Farewell to Longest Tenured Directors
Digital Realty (NYSE: DLR) announced that its longest-serving directors, Laurence A. Chapman and Dennis E. Singleton, will not seek re-election at the 2023 Annual Meeting of Stockholders. Both directors have been with the company since its IPO in 2004 and have greatly contributed to its growth and transformation. Post-meeting, the Board will reduce its size from eleven to nine directors, emphasizing succession planning and Board refreshment. The leadership changes signal a commitment to diverse perspectives within the company. Digital Realty continues to enhance its competitive position through strategic expansions and partnerships.
- Successful oversight of significant growth and strategic acquisitions.
- Commitment to Board diversity and fresh perspectives.
- None.
AUSTIN, Texas, March 6, 2023 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today that the company's longest tenured directors, Laurence A. Chapman and Dennis E. Singleton, both of whom have served on the Board of Directors since the Company's IPO, will not stand for re-election at Digital Realty's 2023 Annual Meeting of Stockholders.
"We are deeply grateful for the invaluable contributions Laurence and Dennis have made since Digital Realty's IPO in 2004," said Mary Hogan Preusse, Digital Realty's Chairman. "They provided unparalleled guidance over nearly two decades and have been excellent mentors and stewards of the Board before me, helping to build the world's largest data center platform."
Following Digital Realty's 2023 Annual Meeting of Stockholders, the size of the company's Board of Directors will be reduced from eleven to nine directors, including eight independent directors. These changes are consistent with the company's demonstrated commitment to succession planning and periodic Board refreshment to provide diversity, fresh thinking and new perspectives.
Mr. Chapman joined Digital Realty's Board of Directors in 2004 and served as Chairman from 2017 until 2022. During his tenure, he successfully oversaw remarkable growth in Digital Realty's global platform, including significant expansion and the transformative mergers and acquisitions of Interxion, Ascenty and DuPont Fabros. Mr. Chapman stated, "It has been a great honor to serve on Digital Realty's Board of Directors since its IPO. It has been an extraordinarily rewarding experience to see the company's tremendous growth and evolution over the last nineteen years. I am heartened by Digital Realty's position and the outlook for data center infrastructure and I look forward to watching the team's continued progress."
Mr. Singleton joined Digital Realty's Board of Directors in 2004 and served as Chairman from 2012 until 2017. During that time, he oversaw a fundamental transformation of Digital Realty's business, including a global geographic expansion and multiple strategic transactions that have meaningfully enhanced the company's competitive position and bolstered its product offering. "It is with mixed emotions that I will be leaving Digital Realty's Board, following nearly 20 fantastic years of collaboration, partnership and success," said Mr. Singleton. "With Mary at the helm of our highly capable Board, along with our newly refreshed management team, I know that Digital Realty is in good hands and I look forward to rooting for the team from the stands."
About Digital Realty
Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company's global data center platform, provides customers with a secure data "meeting place" and a proven Pervasive Datacenter Architecture (PDx™) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 28+ countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and Twitter.
Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
(737) 281-0101
InvestorRelations@digitalrealty.com
Forward-Looking Statements
This press release contains forward-looking statements 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 director transition, the annual meeting and Board of Directors. For a 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. 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/digital-realty-to-bid-farewell-to-longest-tenured-directors-301762920.html
SOURCE Digital Realty
FAQ
What recent leadership changes occurred at Digital Realty (DLR)?
How has the Board of Directors changed after the 2023 Annual Meeting for DLR?
What are the contributions of Laurence A. Chapman and Dennis E. Singleton to DLR?
When will Digital Realty hold its 2023 Annual Meeting of Stockholders?
What is the significance of the departure of long-serving directors for DLR?
