Bob DeSantis, the co-founder and CEO of US operator 365 Data Centers, is to retire.

The company announced the news this week, and DeSantis has initiated the transition of his responsibilities to the company’s chief revenue officer, Derek Gillespie, and CFO Steve Amelio, who has been promoted to president & CFO.

DeSantis will remain an employee of the company on a part-time basis through the end of the year. From January 1, 2026, DeSantis will continue as a board member.

“After 48 years in financial, legal, operations, strategic, M&A, and leadership roles in the communications, energy, network equipment, cloud, and infrastructure-as-a-service sectors, with the last 15 years dedicated to building two data center businesses, it is the right time for me to transition from the significant time commitment of a CEO in a 24/7 industry to that of an experienced board member,” DeSantis said.

DeSantis joined 365 in 2017. Prior to joining, he was managing partner at Xand, an operator acquired by TierPoint around 2014. He also had roles at cloud computing firm FlexiSphere, ISP DSL.net, fiber firms Electric Lightwave and Frontier (then Citizens Communications), and optical switch manufacturing firm Tellium. He started his career back in the 1970s with KMPG.

“This is a well-planned succession with a natural handoff to Derek, who will lead the business as CEO and CRO, and Steve, who will take on major operational responsibilities as president and CFO,” he continued. “Derek and Steve are highly capable professionals and more than ready to lead the Company forward. I have had the great privilege of building 365 with my very talented and dedicated equity partners, fellow 365 management team and employees, and outside service providers. I look forward to focusing on a balance of family time, personal pursuits, 365 Board and strategic matters, and other select affiliations.”

Founded in 2014 and initially comprising a group of data centers built by Switch and Data, today 365 operates more than 20 facilities across the US with around 53MW of capacity. The company is primarily focused on smaller markets outside the usual Tier 1 hubs.

365 was bought by Stonecourt Capital in 2020 from Chirisa Investments, Lumerity, and Longboart, who had acquired the company in 2017.

Lance Hirt, managing partner at Stonecourt Capital, said: “We appreciate Bob’s leadership and extended time commitment as CEO since our investment and partnership, which began in 2020. Bob has built a strong management team, and we are very pleased to support Derek and Steve as we continue to drive 365’s success.”

Incoming CEO Gillespie joined 365 last year after an eight-year stint with fiber firm Zayo. He previously held roles at Cosentry (now TierPoint), Savvis, and AT&T.

365 CFO Amelio joined the company in 2019, having previously held various financial roles with a number of healthcare-related companies.

Matt Kim, founder and managing partner of Lumerity Capital, added: “Having partnered with Bob since the inception of 365, I’ve had a front-row seat to the spectacular growth of 365 Data Centers. Bob is one of the best acquirors, integrators, and operators I’ve worked with, and we look forward to his continued involvement as a Board member.”