19 March 2007
Equinix Names Former HP Executive, Stephen M. Smith, CEO
FOSTER CITY, Calif. — March 19, 2007 — Equinix, Inc. (Nasdaq: EQIX), the leading provider of network-neutral data centers and Internet exchange services, today announced that Stephen M. Smith has been named chief executive officer of the company, effective April 2, 2007. As the company announced in October 2006, Peter Van Camp, Equinix's chairman and CEO since 2000, is transitioning to the role of executive chairman and will remain actively involved with the company.
Smith, 50, is a 19 year industry veteran and recently served as senior vice president of HP Services, the $15 billion professional services segment of HP. Before joining HP, Smith served as vice president of Global Professional and Managed Services at Lucent Technologies. He has also held various management and sales positions, including chief sales officer, president of EDS Asia-Pacific, and president of EDS Western Region, during his 16 years with technology services giant Electronic Data Systems Corporation. Smith had a successful eight-year career in the U.S. Army, where, among other roles, he was aide-de-camp to the office of the commander in chief of the U.S. Armed Forces in the Pacific. Smith graduated from the U.S. Military Academy at West Point and holds a Bachelor of Science degree in engineering.
“Steve possesses exactly the broad leadership skills and experience needed to continue to expand our strong market leadership position: broad knowledge of the global technology industry; a total commitment to customer success; and a deep appreciation for the importance of team and culture,” said Van Camp. “I'm confident Steve will serve Equinix customers and shareholders well. In my new role, I expect to continue to spend 50% of my time at Equinix and I very much look forward to working closely with him at a strategic level to take the company forward.”
Tomorrow, Tuesday March 20th, 2007 at 9:00 a.m. ET (6:00 a.m. PT), Peter Van Camp and Steve Smith will host a financial analyst call to discuss the appointment. The call will include a question and answer session. Members of the media, industry analysts and others may join the call in listen-only mode. To hear the conference call live, please dial 773-799-3263 (domestic and international) and reference the passcode (EQIX). A simultaneous live Webcast of the call will be available over the Internet at www.equinix.com, under the Investor Relations heading.
A replay of the call will be available beginning on March 20, 2007, at 10 a.m. (ET) through April 21, 2007 by dialing 402-220-9828. In addition, the Webcast will be available on the company's Web site at www.equinix.com. No password is required for either method of replay.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of IXEurope into Equinix; a failure to receive significant revenue from customers in recently built out data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; the results of any litigation relating to past stock option grants and practices; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix and IBX are registered trademarks of Equinix, Inc. Internet Business Exchange is a trademark of Equinix, Inc.