CyrusOne CEO Gary Wojtaszek leaves

  • Push-out Score determined
  • After about seven years in the position
  • Accolades, praise and thanks for Wojtaszek
  • Tesh Durvasula taking over in the interim
  • Search for a successor
  • Wojtaszek said 91 words

(exechange) — Dallas, Texas, February 21, 2020 — Gary Wojtaszek, chief executive of CyrusOne, leaves — “by mutual agreement.” As announced by CyrusOne Inc. in a news release published on Thursday, February 20, 2020 and in a regulatory filing published on Friday, February 21, 2020, Gary J. Wojtaszek leaves his post as chief executive officer at the global data center REIT after about seven years in the role, effective immediately.

CyrusOne will undertake a search for a successor.

Gary Wojtaszek’s duties as CEO will be taken over in the interim by Venkatesh S. (Tesh) Durvasula, most recently Executive Vice President and President of Europe of CyrusOne Inc.

No reason given

In the announcement, CyrusOne did not explicitly explain the reason for Gary Wojtaszek’s move.

Precise information regarding Gary Wojtaszek’s future plans was not immediately available.

“Stepping down”

CyrusOne said: “[T]he Company’s Board of Directors has appointed Tesh Durvasula as President & Chief Executive Officer. This appointment follows Gary Wojtaszek stepping down as President & Chief Executive Officer, and as a director of the Company, by mutual agreement with the Board effective upon the filing of the Company’s Form 10-K for the fiscal year ended December 31, 2019.”

CyrusOne further said: “Mr. Durvasula succeeded Gary J. Wojtaszek, who stepped down from his position as President and Chief Executive Officer by mutual agreement with the Board, effective upon the filing of the Company’s Form 10-K for the fiscal year ended December 31, 2019 (the “Transition Date”). In connection with his departure, Mr. Wojtaszek also resigned from the Board, effective on the Transition Date.”

Share price increase since January 2013

The announcement follows an increase in CyrusOne Inc.’s share price of 211% since January 2013.

Chaired by Alex Shumate

CyrusOne Inc. is chaired by Alex Shumate.

Alex Shumate has served as a member of the Company’s Board of Directors since January 2013. Shumate has been appointed non-executive Chairman of the Board and Lead Independent Director, effective June 30, 2014.

In the position of CEO since 2013

Gary Wojtaszek became CEO of the Company in 2013.

Wojtaszek will provide transition assistance.

Gary J. Wojtaszek was the Company’s President & Chief Executive Officer and has served as a member of the Company’s Board of Directors since July 2012.

Prior to becoming the President of CyrusOne in August 2011, Wojtaszek served as Chief Financial Officer of Cincinnati Bell Inc., where he had responsibility for the data center business and oversaw CyrusOne’s successful spin-off and IPO.

Prior to joining Cincinnati Bell in July 2008, he was Senior Vice President, Treasurer and Chief Accounting Officer for the Laureate Education Corporation in Baltimore, Maryland from 2006 to 2008.

Prior to that, Wojtaszek worked from 2001 to 2008 at Agere Systems, the semiconductor and optical electronics communications division of Lucent Technologies, which was subsequently spun-off through an initial public offering.

While at Agere Systems, Wojtaszek worked in a number of finance positions, ultimately serving as the Vice President of Corporate Finance, overseeing all Controllership, Tax and Treasury functions.

Wojtaszek started his career in General Motors Company’s New York treasury group and joined Delphi Automotive Systems as the regional European treasurer in connection with the initial public offering and spin-off of Delphi Automotive Systems from General Motors.

Wojtaszek serves on the foundation board of directors of the Baylor Health Care System, the Executive Board of the Lyle School of Engineering at Southern Methodist University, and the Advisory Board of the Lyle School of Engineering’s Datacenter Systems Engineering (DSE) Program at Southern Methodist University.

Wojtaszek is a director of GDS Holdings Ltd. and previously served as a director of Cincinnati Bell Inc.

Under Wojtaszek’s leadership, CyrusOne’s revenue has more than tripled and it has been one of the best performing publicly-traded real estate companies in the United States since its initial public offering and Nasdaq-listing in January 2013.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.

exechange reached out to CyrusOne and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 8.2020 ($).