Richard Reese CEO, Iron Mountain

Iron Mountain Incorporated announced that Richard Reese, Chairman of the Iron Mountain Board of Directors, has been appointed Chief Executive Officer, effective immediately.

 Mr. Reese has served as Chairman of the Board since 1995 and was Iron Mountain’s Chief Executive Officer from 1981 to 2008. He replaces Bob Brennan, who is stepping down as President and Chief Executive Officer. Mr. Brennan has also resigned as a director of the Company.

"On behalf of the Board of Directors, I would like to thank Bob for his many contributions to Iron Mountain since joining the Company in November 2004. Bob has successfully built on the Company’s long track record of solid performance and improving results," said Kent Dauten, Lead Director of Iron Mountain’s Board. "Our Board and management team have been diligently working on a three-year plan to drive returns and enhance stockholder value, focused on operating strategy, capital allocation discipline and commitment to returning cash to stockholders. As we move forward with the execution of our business plan, Bob and the Board agreed that the time is right to make this transition. We are confident that Richard’s deep operational expertise and knowledge of our business will be instrumental to our success. We wish Bob all the best in his future endeavors."

Mr. Reese commented: "I am honored to have the opportunity to lead this organization and work once again with the talented group of people at Iron Mountain, as we continue to build value for our customers and stockholders alike. I look forward to discussing our plan with stockholders in the near future."

Mr. Brennan commented: "Iron Mountain has great employees, who are dedicated to serving customers by treating customers’ information as if it were their own. I am proud of what we have accomplished together and confident in the Company’s plan and future prospects."

Mr. Reese has been an Iron Mountain director since 1990. He has served as Chairman of the Board since 1995 and Chief Executive Officer from 1981 to 2008. Mr. Reese is a member of the investment committee of Schooner Capital LLC. He is also a director of Charles River Laboratories, Inc., a publicly held company. He holds both Bachelor and Master of Science degrees in engineering from Clemson University and a Master of Business Administration degree from Harvard Business School.