|Richard Reese to retire from Iron Mountain.|
The board of directors for Iron Mountain Inc., an information storage and management company headquartered in Boston, has voted unanimously to appoint William Meaney as president and CEO of the company, effective Jan. 7, 2013. Meaney also will join the company’s board. He will succeed Richard Reese, executive chairman and CEO, who announced his intention to retire after 31 years at the company.
Meaney comes to Iron Mountain with more than 20 years of experience overseeing diverse businesses in the United States, Europe, Asia and Africa. Most recently, he served as CEO of the Hong Kong-based Zuellig Group, a $12 billion, primarily business-to-business conglomerate that saw sales triple during his eight-year tenure from 2004-2012, according to Iron Mountain.
Meaney says, “This is an exciting opportunity for me. Iron Mountain is a global market leader with a compelling customer value proposition and a large market opportunity. What’s more, the company is executing on a strong financial strategy to drive returns on invested capital and return excess capital to shareholders that I believe is right for both the business and investors. I look forward to working with the board, management team and our talented employees to deliver outstanding services to our customers and drive value for shareholders.”
Additionally, Al Verrecchia, lead independent director of Iron Mountain, will succeed Reese as chairman of the board, effective in March 2013, which coincides with Reese’s retirement from the board. Verrecchia joined the company’s board in March 2010. He also has served as Hasbro Inc.’s chairman since 2008.
Regarding Meaney’s appointment, Verrecchia says, “Bill’s extensive global operations experience in both services and logistics-based businesses is key to expanding our market leadership position in North America as well as growing our international business, particularly in emerging markets. Moreover, Bill possesses keen financial acumen, has proven to be a collaborative team leader and is committed to Iron Mountain’s goal to deliver shareholder returns for the long-term.”
Reese served as CEO of Iron Mountain from December 1981 to June 2008 and returned as CEO in April 2011. He also served as chairman of the company’s board beginning in 1995 and as executive chairman since June 2008. During his tenure, he grew the business from a regional provider with $3 million in annualized revenues to a global leader in information management and storage with more than $3 billion in sales, Iron Mountain notes.