CyrusOne has hired Bruce W Duncan as the first permanent CEO after Gary Wojtaszek abruptly left the role in February.
Duncan comes from the real estate industry and is a newcomer to the data center industry.
Interim CEO Tesh Durvasula took over the reins of the company in February, he also stood for the official post. Durvasula will be staying on to help Duncan transition.
New boy in town
With more than 40 years of real estate investment trust experience, Duncan currently serves as chair of the Board of First Industrial Realty Trust and serves on the Boards of Marriott International and Boston Properties.
“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," he said.
"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.”
Back in January, Durvasula was meant to be leaving CyrusOne amid significant staff reductions. Financially struggling, CyrusOne was dogged by takeover rumors throughout 2019 and began 2020 with plans to lay off 12 percent of its staff.
The company said that it had "mutually agreed" with Durvasula that he would leave "to pursue other interests, effective March 1, and remain in a consulting role through June 30."
But then in February CEO Gary Wojtaszek suddenly stepped down, with no reason given. Durvasala ended up staying on to serve as CEO on an interim basis and stood as a candidate for the long-term post.
Following Duncan's hiring, Durvasula said: “It has been my privilege to lead CyrusOne, and I am proud of our accomplishments, especially in the way our team rallied together during these last few eventful months.
"CyrusOne has a tremendous track record, and I have no doubt that the Company will continue to succeed and reach new heights in the years ahead.”