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Home > Data Center > Switch launches shareholder value initiatives

Switch launches shareholder value initiatives

Switch introduced shareholder value initiatives to support its technology and innovative infrastructure strategy.

Seda Nur Cinar by Seda Nur Cinar
August 9, 2021
in Data Center
2 min read
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Switch unveiled shareholder value initiatives to support its technology and innovative infrastructure strategy as a continuation of its evolution as a public company. In addition to supporting these shareholder initiatives, Switch added Jason Genrich to the Board of Directors.

Evaluating a REIT election

While conducting ongoing reviews of its directors, the managers evaluate the necessary skills, qualifications, experiences, and diversity of background to ensure Switch’s success for all of its stakeholders. These initiatives include evaluating a REIT election and a review of Switch’s operational and financial targets. Elliott Investment Management has collaborated with Switch on these initiatives and will join the Board of Directors.

Switch Founder and CEO of Rob Roy,
Rob Roy, Founder and CEO of Switch

Switch Founder and CEO Rob Roy said,

“The combination of the world’s most advanced data center infrastructure, significant expansion capacity, and industry-leading ROIC provide a compelling foundation for continued strategic leadership and financial performance. The initiatives announced today, including the evaluation of a REIT election, are an important step forward to fully realize the value inherent in Switch’s technology and Tier 5 data centers.”

Switch’s REIT Committee of the Board will be responsible for an evaluation process of a REIT election. It will also evaluate Switch’s capital allocation plan, capital structure, and a multi-year financial plan to be discussed at the upcoming Investor Day.

The company recently announced the expansion into a fifth prime campus in Texas, 1.3 million additional square feet to open between now and early 2023, and an additional 1.9 million square feet in the development pipeline through 2026.

See more Data Center News


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Seda Nur Cinar

Seda Nur Cinar

Seda Nur Cinar is the news editor of the Cloud7 News. With more than 8 years of Linux and cloud experience, Seda is a Linux and opensource enthusiast, security researcher and a web application developer.

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