- After about five and a half years in the position
- Accolades and praise for Meyers
- Adaire Fox-Martin taking over
- Meyers will remain as Executive Chairman at Equinix
- Meyers said 124 words
(exechange) — Redwood City, California, March 12, 2024 — Charles Meyers, chief executive of Equinix, leaves his position. As announced by Equinix Inc. in a news release and in a regulatory filing published on Tuesday, March 12, 2024, Charles Meyers leaves his post as chief executive officer at the data center operator, after about five and a half years in the role, effective late Q2 2024, but no later than June 17, 2024.
Charles Meyers’s duties as CEO will be taken over by Adaire Fox-Martin, most recently Google Cloud Go-to-Market President at Alphabet.
Already a director
Fox-Martin has already been a member of the board of directors of Equinix. Directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Fox-Martin understands the expectations and dynamics of the board and has knowledge of Equinix’s organization, risk-management practices and strategy.
No reason given
In the announcement, Equinix did not explicitly explain the reason for the move.
Meyers will remain as Executive Chairman at Equinix
Equinix stated: “Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company®, today announced a planned leadership transition effective late Q2 2024 whereby current President and CEO Charles Meyers will transition to the role of Executive Chairman, and Google Cloud Go-to-Market President Adaire Fox-Martin will begin serving as Equinix President and CEO.”
“Retire”
Equinix said: “Ms. Fox-Martin will succeed Charles Meyers, who announced that he plans to retire as President and Chief Executive Officer, effective on the Transition Date.”
Share price increase since March 2019
The announcement follows an increase in Equinix Inc.’s share price of 106% since March 2019.
In the position of CEO since 2018
Charles Meyers became CEO of the Company in 2018.
Charles J. Meyers joined Equinix in 2010 with more than 25 years of experience in executive leadership positions at leading technology and IT companies, including at Verisign, Level 3 Communications and BellSouth.
Charles Meyers earned dual master’s degrees from Northwestern University’s J.L. Kellogg Graduate School of Management and McCormick Graduate School of Engineering.
He also holds a B.S. in Chemical Engineering from the University of Colorado.
124 words by Charles Meyers
In the release announcing his departure as CEO of Equinix Inc., Charles Meyers received accolades and praise.
In announcing his departure, Charles Meyers said 124 words.
“Pivotal shifts”
Charles Meyers stated: “Digital transformation is reshaping the basis of competition for industries across the globe, and the rapid adoption of AI is accelerating that dynamic. These pivotal shifts have created an extraordinary demand environment for digital infrastructure, and our distinctive advantages create an exceptional long-term opportunity for Equinix. I am confident that Adaire’s capabilities and experience will be deeply additive to our team and our culture, helping us meet the evolving needs of our customers, fuel our growth and unlock the extraordinary power of Platform Equinix. I am grateful to our board for their support of my desired transition timeline, and excited to assume the Executive Chairman role and actively support Adaire as she leverages her tremendous global experience to extend and expand our market leadership.”
The above text is an excerpt from the exechange report 12.2024 ($), publication date March 18, 2024.