Exhibit 99.1
IRON MOUNTAIN BOLSTERS EXECUTIVE TEAM
John F. Kenny Appointed EVP, Corporate Development; Company also Fills Top
Posts in Europe and Human Resources
BOSTON, May 31 /PRNewswire-FirstCall/ -- Iron Mountain Incorporated (NYSE:
IRM), the global leader in information protection and storage services, today
announced that John F. Kenny, Jr. has been appointed to the newly created
position of Executive Vice President, Corporate Development. Mr. Kenny will
continue to serve as a director on the Company's Board, a position he has held
since 2000. The Company has retained an executive search firm to conduct the
search for a new Chief Financial Officer. Mr. Kenny will continue as Chief
Financial Officer until his successor is hired, at which time he will assume his
new responsibilities. Iron Mountain also announced today that Marc Duale has
been named President of Iron Mountain Europe, and Linda Rossetti has joined the
Company as Executive Vice President, Human Resources.
New Position to Focus on Strategy and Capital Management
In his new position, approved by Iron Mountain's Board of Directors,
Mr. Kenny will focus on strategic corporate development activities, including
mergers and acquisitions and global expansion, financial strategy, capital
management and investor relations. Mr. Kenny will continue to report to Richard
Reese, Chairman and Chief Executive Officer, and will work closely with Bob
Brennan, President and Chief Operating Officer, and the incoming CFO to drive
the Company's overall global business strategy. Mr. Kenny will assume his new
responsibilities once a successor has been named.
"As we prepare to manage the much larger enterprise we fully expect to
become, these Corporate Development activities become increasingly important,"
said Mr. Reese. "We have a diverse and robust opportunity set and we need to
apply our greatest intellectual capital against our largest opportunities. John
is uniquely qualified to drive success in these areas and provide strategic
counsel to the Company. No one has greater insight into our business and this
new position provides the opportunity for John to use these skills and play a
larger role in developing our strategic agenda."
Mr. Kenny joined Iron Mountain in 1991, and held several operating positions
before becoming VP of Mergers & Acquisitions and initiating the Company's
strategic acquisition program in 1994. In 1997, Mr. Kenny was named EVP and CFO.
Since that time, Mr. Kenny has directed an aggressive capital markets program
raising more than $3 billion in support of the Company's strategy, overseen an
acquisition program that has taken the Company to 170 markets in 27 countries on
five continents, and built a global finance organization.
"This is an important time in the evolution of Iron Mountain," said Mr.
Kenny. "As we expand our leadership position, we need to remain focused on the
strategic corporate development activities and capital management decisions that
will drive higher returns for our shareholders. I feel this new position plays
to my strengths and will allow me to focus my energies on these important growth
activities. I am looking forward to this next chapter in my Iron Mountain
career."
Iron Mountain Names New Head of Europe and EVP of Human Resources
Marc Duale, a French native, brings more than 25 years of senior executive
experience in business services to Iron Mountain Europe that spans both Europe
and Asia, most recently for Reuters and DHL Worldwide Express. As President of
Iron Mountain Europe, he will be based at the Company's European headquarters in
London, England. Duale holds an MBA from Harvard Business School and an
engineering degree from MIT. He fills a position that was vacated at the end of
2005 due to the retirement of his predecessor.
Linda A. Rossetti is a seasoned executive with senior managerial
experience spanning a number of strategic consulting businesses. Prior to
joining Iron Mountain, Ms. Rossetti was a Group Director of the Healthcare
Consultancy Division of Perot Systems Corporation. As EVP, Human Resources,
Ms. Rossetti will be responsible for overseeing the corporate HR function for
Iron Mountain's more than 15,000 employees. Ms. Rossetti holds an MBA from
Harvard Business School and a B.A. from Simmons College. She succeeds
Patricia Bowler, who recently left the Company. Ms. Rossetti will be based in
Boston at the Company's corporate headquarters. Both Mr. Duale and Ms.
Rossetti will report to Mr. Brennan.
"These are two important appointments to Iron Mountain's senior team, and
each is well-suited for their respective position," said Mr. Brennan. "Europe is
a major growth area for us and our employees are our most important asset. We
look forward to working with both Marc and Linda as we continue to grow our
business, and create increased value for our customers, employees and
shareholders."
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) helps organizations around the world
reduce the costs and risks associated with information protection and storage.
The company offers comprehensive records management and data protection
solutions, along with the expertise and experience to address complex
information challenges such as rising storage costs, litigation, regulatory
compliance and disaster recovery. Founded in 1951, Iron Mountain is a trusted
partner to more than 90,000 corporate clients throughout North America, Europe,
Latin American and Asia Pacific. For more information, visit the company's Web
site at http://www.ironmountain.com.
Investor Relations contact:
Stephen P. Golden
Director, Investor Relations
sgolden@ironmountain.com
(617) 535-4799
Press Contact:
Melissa Mahoney
Director, Corporate Communications
Melissa.mahoney@ironmountain.com
(617) 535-8310
SOURCE Iron Mountain Incorporated
-0- 05/31/2006
/CONTACT: Investors: Stephen P. Golden, Director, Investor Relations, +1-
617-535-4799, sgolden@ironmountain.com, or Press Contact: Melissa Mahoney,
Director, Corporate Communications, +1-617-535-8310,
Melissa.mahoney@ironmountain.com, both of Iron Mountain/
/Web site: http://www.ironmountain.com/