Digital Realty, the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, has announced that its Board of Directors has appointed Andrew P. Power as its Chief Executive Officer (CEO) and to the Board of Directors, effective immediately. This appointment follows CEO Bill Stein’s resignation from the Board of Directors and departure from his position as CEO.
However, Bill Stein will still work for the company until the end of the year and on behalf of the board of directors of Digital Realty, chairman Mary Hogan Preusse would like to thank Bill for his excellent leadership and congratulate him on the outstanding results he has achieved for the company and its stakeholders.
Andrew P. Power has led Digital Realty as president since November 2021. Prior to that, he was the company’s chief financial officer (CFO) since 2015 and was in charge of the company’s financial operations across the company’s international platform, as well as global portfolio operations, technology development and innovation, service provider and enterprise customer solutions, asset management, and information technology.
Moreover, Mr. Power worked in investment banking for a number of years prior to joining Digital Realty, most recently holding the position of Managing Director at Bank of America Merrill Lynch. Additionally, Mr. Power was a part of the lead underwriting team that provided advice to Digital Realty regarding its IPO in 2004.
On behalf of Digital Realty’s Board of Directors, Chairman Mary Hogan Preusse stated that Andy has spent the last two decades developing a unique skillset and unparalleled professional relationships that will enable him to excel in his new role as CEO.
“As President and CFO, Andy has worked tirelessly to help broaden Digital Realty’s presence and value proposition, enhance the Company’s financial flexibility and build the world’s largest data center platform. I am proud to be able to hand the reins to a capable leader and look forward to watching Andy lead the Company in the years ahead.” said Chairman Preusse.
Ms. Hogan Preusse continued that Andy has a distinct vision for the future of the business and a proven track record of success. The Board is excited to collaborate with him to build on our momentum and to assist direct Digital Realty as they continue to operate throughout their worldwide platform of highly linked data centers while supporting the continuous digital transformation of our expanding customer base.
“I am honored to be named Digital Realty’s CEO, and I want to thank Bill for all that he has contributed to Digital Realty and for nearly two decades of partnership. I am grateful for the opportunity to lead this irreplaceable platform and our enormously talented and driven colleagues into the future. As CEO, I look forward to meeting the needs of our growing customer base and supporting our dedicated employees as we deliver on our strategic priorities, strengthen our value proposition and improve the core growth of our portfolio.” said Mr. Power.
With the intention of announcing a long-term successor in the first quarter of 2023, Mr. Power will continue to lead Digital Realty as president and CFO.
