Iron Mountain Names Brennan CEO, Proposes US$300m Debt Offering

Boston-based Records Management specialist Iron Mountain has named Bob Brennan as its new CEO. Brennan was unveiled in his new position on June 5th, and succeeds long-standing Chief Richard Reece. Brennan has been with the company since 2004, when he came on board following the acquisition of Connected Corporation, where he was CEO. Since 2005 Brennan (a Psychology major) has served as president and as Chief Operating Officer at Iron Mountain. Prior to Connected, Brennan worked at Cisco and served as CEO of American Internet. Stability has reigned at the top of Iron Mountain over a prosperous quarter of a century: Reese (Harvard, MBA) held the position of CEO for 27 years, during which time revenues grew from US$3m to over US$2 Billion. Reese maintains a head role with the company as Executive Chairman of the Board. Meanwhile the company has also announced a US$300m debt offering to repay existing debt. Iron Mountain wants to raise the cash to clear debts and to release some equity for possible future takeovers. Iron Mountain specializes in digital and paper Records Management, and in Data Protection and Recovery. The company is a global concern with a presence in 23 Countries. Visit Iron Mountain here.