Bob Brennan CEO of Iron Mountain

Iron Mountain Incorporated announced that its board of directors elected Bob Brennan, 48, president and chief executive officer, making official the elevation first announced in February 2008. He succeeds Richard Reese, who after serving 27 years as CEO, now assumes the new full-time role of executive chairman of the board. Brennan, Iron Mountain’s president and chief operating officer since December 2005, was also elected today to the company’s board of directors at its annual meeting of stockholders.

Bob Brennan

"It is an honor to have the opportunity to lead Iron Mountain into another era of growth," said Brennan. "I’m committed to continue delivering on a promise we’ve made to customers, which is to help them manage their physical and digital information via integrated storage-as-a-service solutions. We have a unique opportunity to build on our success and brand reputation to further enhance our value to customers and stakeholders, and we intend to take advantage of it."

Brennan takes the helm of a company that has risen to the top of its industry over the last decade. Under Reese’s leadership, Iron Mountain acquired more than 200 companies and grew from a regional provider of records storage to the global leader in records management, data protection and information destruction. Revenues during Reese’s tenure increased 1,000 fold, from $3 million in 1981 to what is expected to be approximately $3 billion in 2008.

"Iron Mountain is the most recognized and trusted brand in its industry," said Steve Duplessie, founder and senior analyst at the Enterprise Strategy Group (ESG). "Since joining the company, Bob has enhanced the company’s ability to leverage its reputation and expertise into new products and markets. The demand for the services Iron Mountain provides has never been higher, and I expect it will accelerate."

During his time as president and COO, Brennan worked with Reese to further establish Iron Mountain as a global provider of information protection and storage services with revenues that grew from $1.8 billion to $2.7 billion between 2004 and 2007. He also helped to develop Iron Mountain Digital into the leading Storage-as-a-Service player with nearly 50 percent compounded annual revenue growth rate over the last three years.

"Iron Mountain has enjoyed a great past, and it’s positioned to have a great future," said Reese, who in his new role will focus on driving the company’s new services agenda and advising Brennan on strategy and other matters of the business while continuing to perform his duties as chairman of the board. "Bob’s the right guy to lead us forward. His management and technology expertise has helped transform Iron Mountain into a technology leader, and it will continue to help the company meet customers’ evolving information storage and protection needs."

Brennan joined Iron Mountain in 2004 as president of North America after the company acquired Connected Corporation, where he was chairman and chief executive officer.