CyrusOne announced the CEO transition in February. Tesh Durvasula has been appointed as Interim President & Chief Executive Officer. CyrusOne CEO Gary Wojtaszek has resigned from his role as President & Chief Executive Officer, and as a director of the company in January. Now, the company announced the appointment of Bruce W. Duncan as new CEO on Monday.
40 years of real estate experience
According to the announcement, Mr. Durvasula will work with Mr. Duncan to ensure a smooth leadership transition. This decision was surprising because Duncan has no data center experience. The new CEO, Bruce Duncan, has plenty of experience steering in real estate companies including Cadillac Fairview Corporation, Equity Residential, Starwood Hotels & Resorts Worldwide, Inc., and First Industrial Realty Trust, Inc. Prior to this, he serves as Chair of the Board of First Industrial Realty Trust, Inc. and serves on the Boards of Marriott International Inc. and Boston Properties, Inc.
Mr. Duncan talked about his new role,
“I am excited to join CyrusOne, one of the top-performing REITs since its inception, to help lead the Company’s global expansion and deepen our partnerships with an incredible roster of customers. CyrusOne is an industry leader because of an extraordinary team of professionals who are passionate about developing innovative solutions to support the significant demand for data center infrastructure. I look forward to joining the Company and being a part of its continued success.”
CyrusOne is a real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure.
Alex Shumate, Chairman of the CyrusOne Board, said,
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“Bruce is a proven real estate executive with decades of experience as a REIT CEO and public company director. We are confident that Bruce is the right person to lead the Company in our strategic execution, continued growth, and international expansion.”