(The Hosting News) – Terremark founder and CEO Manuel D. Medina will step down from the cloud hosting company at the end of the May, Terremark announced Friday. The move happens not long after Verizon acquired Terremark as a subsidiary for $1.4 billion in January.
Upon announcing his departure from the company, Medina stated, “I’ve had the privilege to lead Terremark and our amazing team of professionals for more than 30 years and I feel that now is the perfect time to step aside and allow the next generation of leaders to build on the success we have achieved.”
Medina will be replaced by Kerry Bailey, Verizon’s Group President of Enterprise Cloud Strategy.
The press release announcing Bailey’s addition to Terremark states, “As leader of Terremark, he will work closely with the company’s management team to accelerate the companies’ collective global cloud services vision and strategy.”
Terremark specializes in providing enterprise and government customers with various solutions such as cloud computing, cyber security and managed hosting. The company currently has 13 data centers worldwide.
For more information on Terremark, visit: http://www.terremark.com