October 28, 2005
Equinix President and COO Phil Koen Announces his Intention to Resign in March 2006
Foster City, CA — October 28, 2005 — Equinix, Inc. (Nasdaq: EQIX), the leading provider of network neutral data centers and Internet exchange services, today announced that President and Chief Operating Officer Phil Koen plans to resign effective March 2, 2006.
Koen, who will continue to advise the company as a strategic advisor after March 2, 2006, joined Equinix in July 1999 as Chief Financial Officer and in this position built Equinix's initial operating and financial functions. Additionally, Koen led the effort to secure more than $800 million in public and private financing, including completing the company's initial public offering in August 2000. In May 2001, he was promoted to President and COO where he led the company's program to build out US Internet Business Exchange™ (IBX®) centers. He has also been instrumental in turning around the company's performance in the Asia Pacific region, where the company is showing increasingly positive financial results. "Phil was one of the original members of the executive team during its initial start-up. His leadership, strategic vision and tenacity throughout the years have helped Equinix achieve the market leadership position we hold today," said Peter Van Camp, CEO of Equinix. "With Phil's assistance, we will be working together over the next four months to ensure a smooth transition. I will miss his contributions as President and COO."
"Being part of this success story has been terrific. I have fulfilled my greatest goal, which was to be part of a team that has taken a company from start up to an industry leader, and the company is currently on an excellent course with strong leadership. I have a strong personal interest in the telecom and internet services space and now is the time for me to pursue several unique opportunities," said Phil Koen, President and COO of Equinix.
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.