Iron Mountain Announces CFO Transition
26 November 2019
BOSTON, Nov. 25, 2019 /PRNewswire/ -- Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, today announced that Barry A. Hytinen has been appointed Executive Vice President and Chief Financial Officer, effective January 1, 2020. Mr. Hytinen will succeed Stuart Brown, who will be stepping down from the CFO role on December 31, 2019 to pursue other interests. Mr. Brown will continue with Iron Mountain in a consulting role until February 20, 2020 to assist with the transition.
Mr. Hytinen brings more than 20 years of corporate finance experience to Iron Mountain. He currently serves as Executive Vice President and Chief Financial Officer at HanesBrands, where he has helped diversify the company's business model and offerings to achieve sustainable results in an evolving global retail environment. His efforts at HanesBrands have resulted in reduced leverage, increased levels of operating cash flow and strong international growth. Prior to HanesBrands, he has served in a range of finance, corporate development, and investor relations roles.
"Barry has a proven track record of strong financial leadership and I am confident that his insights will be very valuable as we execute our transformation program to simplify our structure and create a more dynamic, agile organization," said William L. Meaney, President and Chief Executive Officer. "With Barry's support, we look forward to capitalizing on our future business opportunities and delivering enhanced value to our shareholders. On behalf of the Board, I want to thank Stuart for his numerous contributions, as well as his support during this transition period. We wish him all the best in his future endeavors."
"I am delighted to join Iron Mountain at such an important time in the company's evolution," said Mr. Hytinen. "I look forward to working closely with Bill and the rest of the leadership team to drive growth, profitability and value creation for Iron Mountain shareholders."
"It has been exciting to be a part of the successful growth of Iron Mountain and the expansion into data centers and other fast-growing businesses," said Mr. Brown. "I am proud to have worked with such a talented team with a track record of delivering on strategic and financial objectives."
Iron Mountain is reaffirming its previously announced guidance for the full year 2019, which was outlined in its third-quarter 2019 earnings press release and supplemental financial information.
About Barry A. Hytinen
Mr. Hytinen has served as HanesBrands' Chief Financial Officer since October 2017. Prior to joining HanesBrands, he served as Executive Vice President and Chief Financial Officer for Tempur Sealy International, Inc. He also served in a range of finance, corporate development, financial planning and investor relations roles at Tempur Sealy, including Corporate Development and Finance. Before joining Tempur Sealy, Mr. Hytinen served as Chief Financial Officer of Fogbreak Software, a venture-backed software company. Earlier in his career, he held finance and corporate development positions at Vignette and General Electric Company. Mr. Hytinen earned an MBA from Harvard Business School and holds a B.S. in Finance and Political Science from Syracuse University.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across more than 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.
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Forward Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws and is subject to the safe-harbor created by such Act. Forward-looking statements include, but are not, limited to, our financial performance outlook and statements concerning our operations, economic performance, financial condition, goals, beliefs, future growth strategies, investment objectives, plans and current expectations, such as 2019 guidance. These forward-looking statements are subject to various known and unknown risks, uncertainties and other factors. When we use words such as "believes," "expects," "anticipates," "estimates" or similar expressions, we are making forward-looking statements. Although we believe that our forward-looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations. In addition, important factors that could cause actual results to differ from expectations are described in our filings with the Securities and Exchange Commission, including under the caption "Risk Factors" in our periodic reports or incorporated therein. You should not rely upon forward-looking statements except as statements of our present intentions and of our present expectations, which may or may not occur. Except as required by law, we undertake no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Iron Mountain Incorporated