CyrusOne appoints Bruce Duncan as President and CEO
The new CEO succeeds Tesh Durvasula, who has served as CyrusOne’s interim President and Chief Executive Officer since February 20, 2020.
CyrusOne Inc. (NASDAQ: CONE) has appointed Bruce W. Duncan as President and Chief Executive Officer as well as a member of the Board of Directors, effective July 6, 2020.
Duncan has more than 40 years of diverse real estate management, development, and global investment experience across numerous property types.
He has had a track record as CEO and Director of multiple public companies: Cadillac Fairview Corporation, Equity Residential, Starwood Hotels & Resorts Worldwide, Inc., and First Industrial Realty Trust, Inc.
“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,” said Duncan.
“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 centre infrastructure. I look forward to joining the Company and being a part of its continued success.”
Duncan currently 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.
Alex Shumate, Chairman of the CyrusOne Board, said, “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.”
“On behalf of the entire Board, I would like to thank and recognise Tesh for his contributions over the last eight years, including his recent leadership as interim President & Chief Executive Officer.
“We were fortunate to have an executive of Tesh’s calibre step up, particularly during these challenging times. We wish Tesh the best of luck in his future endeavours.”
Durvasula will work with Duncan to ensure a smooth leadership transition.
“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,” added Durvasula.
“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.”