PORTSMOUTH, N.H. - Iron Mountain Incorporated (NYSE: NYSE:IRM), known for its information management services, has announced the election of June Yee Felix to its Board of Directors, effective January 1, 2025. Ms. Felix brings a wealth of experience from her time in leadership roles across the financial services, fintech, and technology sectors. The announcement comes as Iron Mountain continues its strong market performance, with InvestingPro data showing an impressive 75% year-to-date return and a market capitalization of over $35 billion.
With a career spanning three decades, Felix's background includes serving as Group CEO of IG Group plc, a prominent fintech firm, from 2018 to 2023. Prior to her CEO role, she was a non-executive director for the same company from 2015 to 2018. Her experience is further bolstered by her tenure as a regional president at Verifone and senior positions at Citibank, IBM (NYSE:IBM), and Chase Manhattan Bank.
Currently, Felix is a non-executive director of RELX PLC and an advisory board member of the London Technology Club. Her educational qualifications include a bachelor's degree in chemical engineering and pre-med from the University of Pittsburgh.
Pamela Arway, Chairperson of the Board at Iron Mountain, expressed the Board's pleasure in welcoming Felix, citing the additional strength and expertise she will contribute from her background in relevant industries. William L. Meaney, President and CEO of Iron Mountain, highlighted Felix's track record of leading complex global organizations through successful transformations, which is expected to bring valuable insights to Iron Mountain's ongoing growth.
Iron Mountain serves over 240,000 customers in 60 countries, including approximately 95% of the Fortune 1000. The company offers solutions that span information management, digital transformation, information security, data center, and asset lifecycle management. Iron Mountain's commitment to safety, security, sustainability, and innovation is a cornerstone of their service to customers. The company has maintained dividend payments for 15 consecutive years, currently offering a 2.4% yield. According to InvestingPro, which provides comprehensive analysis through its Pro Research Reports for over 1,400 US stocks, Iron Mountain maintains a "GOOD" overall financial health score, though current valuations suggest the stock may be trading above its Fair Value. Investors seeking deeper insights into Iron Mountain's financials and growth prospects can access additional ProTips and detailed metrics through InvestingPro's advanced analytics platform.
This information is based on a press release statement from Iron Mountain Incorporated.
In other recent news, Iron Mountain Incorporated has reported robust growth in the third quarter of 2024, with record quarterly revenues of $1.6 billion, marking a 12% increase from the previous year, and a rise in adjusted EBITDA to $568 million. The company also successfully completed a private offering of $1.2 billion in senior notes, significantly up from the initially proposed $750 million, intending to reduce the outstanding debt under its revolving credit facility. On the board front, Iron Mountain announced the appointment of June Yee Felix, bringing her vast experience from the financial services, fintech, and technology sectors.
In other recent business developments, the company's data center segment showed a 20% organic increase with 106 megawatts of new leases year-to-date. Additionally, asset life cycle management (ALM) revenue surged 145% year-on-year to $102 million. Iron Mountain also secured notable contracts in ALM, including a seven-year deal with a large Australian government department and agreements with an Australian telecommunications provider and a global technology company in the U.S.
These recent developments highlight the continuous growth and strategic initiatives of Iron Mountain Incorporated. It is important to note that this information is based on past articles and does not include any predictions or prognostications about the company's future.
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