Data center News
10 Data Center Companies You Need To Watch In 2023
Hyperscalers and enterprise data center growth is projected to continue to race higher as digital transformation drives demand for the bedrock technology.
Why you should watch: As one of the largest data center providers in the world, Digital Realty suddenly fired its CEO, Bill Stein -- an 18-year company veteran -- in December and promoted its CFO to president and CEO.
Digital Realty opens up the new year at the start of leadership transition. In December, it fired its CEO, Bill Stein, “without cause” and “effective immediately,” then promoted the company’s CFO Andrew Power.
In a press release, Digital Realty’s board chairman Mary Hogan Preusse wished Stein “all the best.”
“I want to thank Bill for this exemplary leadership and congratulate him on the tremendous success he has achieved for Digital Realty,” she said, according to a statement. Then she turned her praise to incoming CEO Power.
Power has been president of the company since 2021.
In its most recent quarter, Austin, Texas-based Digital Realty posted revenues of $1.2 billion, up 5 percent sequentially and year over year. It delivered a record quarter for bookings, its third bookings record in the last four quarters.
The company is not afraid to make big moves, having closed one of the largest data center purchases in history when it snapped up data center giant InterXion for $8.4 billion in 2020. That move gave Digital Realty 53 facilities in 11 European countries.