Another top executive who was involved in forming Digital Realty Trust is leaving the company. Chief investment officer Scott Peterson will step down from his role at the end of this month, Digital announced Thursday. He has agreed to stay on as a consultant through February of next year, however.
With the San Francisco-based company since its founding and IPO in 2004, Peterson has played an instrumental role in its acquisition strategy, including the most recent major deals that have been transformational both for Digital and for the market at large.
Its $1.9 billion acquisition of Telx in 2015 put Digital on the map as a retail colocation and interconnection player to reckon with; while last year’s $7.6 billion merger with DuPont Fabros Technology cemented its position as the top hyperscale data center landlord in Northern Virginia, one of the world’s biggest and hottest data center markets.
“Scott was one of Digital Realty's co-founders, and he has played a key role in executing the strategic acquisitions which have fueled the tremendous growth of our global platform and set the stage for our continued momentum,” Digital Realty CEO William Stein said in a statement. “While we will certainly miss his keen intellect and his quick wit, we wish Scott all the best in his next chapter, and we thank him for his many contributions to Digital Realty – certainly not least the strong team he leaves behind.”
Also departing is Dan Papes, Digital’s senior VP, global sales and marketing. The former IBM sales executive (he spent nearly three decades at IBM) joined Digital in 2016 to oversee sales, leasing, and marketing efforts across the organization. Papes has agreed to stay in his current role until the end of June.
Peterson has been one of the few early-days Digital executives still with the company. Its founding CEO Michael Foust resigned in 2014, followed by resignation of CTO Jim Smith in 2015. Stein was Digital’s founding CFO until replacing Foust in the chief executive seat.
Besides Stein, members of the old guard still on the management team include Christopher Kenney, senior VP of acquisitions and investments, and Joshua Mills, senior VP and general counsel.