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13:14:59 EDT Sat 19 Apr 2014
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VERIZON COMMUNICATIONS INC
Symbol U : VZ
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Terremark Founder & CEO Manuel D. Medina Steps Down

2011-05-19 12:26 ET - News Release

Verizon Enterprise Cloud Strategy and Services Group President Kerry Bailey to Lead Company


Company Website: http://www.terremark.com
MIAMI -- (Business Wire)

Terremark Worldwide, Inc., a subsidiary of Verizon Communications Inc., today announced that Founder and CEO Manuel D. Medina will step down from his position effective May 31. Kerry Bailey, Group President of Enterprise Cloud Strategy and Services for Verizon, will assume leadership of the company.

“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,” said Medina. “I truly believe that the collective strengths of Verizon and Terremark will propel the company to even greater heights in the years to come.”

Bailey, who has held various executive positions within Verizon, most recently has led Verizon’s “everything-as-a-service” enterprise solutions strategy. 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.

“What initially attracted us to Terremark was not only its innovative services and top-tier facilities, but the impressive team of experienced and talented professionals that Manny was able to bring together,” said Bailey. “Terremark will drive Verizon’s global cloud and IT solutions strategy, and I’m looking forward to continuing our work to roll out an unmatched portfolio of secure, on-demand cloud computing solutions to be delivered through a unified enterprise IT platform.”

Terremark is a leading provider of enterprise-class cloud computing solutions and fully managed cyber security services for large enterprises and government agencies. Terremark’s flagship facility, the Network Access Point (NAP) of the Americas, which is one of the world’s most connected data center facilities and is interconnected with Terremark’s NAPs throughout the United States, Europe and Latin America. The combination of these robust physical assets and the company’s leading-edge solutions helps Terremark provide the innovative solutions that hundreds of organizations trust for their mission-critical applications.

About Terremark Worldwide, Inc.

Terremark Worldwide, Inc., a subsidiary of Verizon Communications Inc. (NYSE, NASDAQ:VZ), is a leading global provider of IT infrastructure services delivered on the industry’s most robust and advanced technology platform. Leveraging data centers in the United States, Europe and Latin America with access to massive and diverse network connectivity, Terremark delivers government and enterprise customers a comprehensive suite of managed solutions including managed hosting, colocation, disaster recovery, security, data storage and cloud computing services. Terremark’s Enterprise Cloud computing architecture delivers the agility, scale and economic benefits of cloud computing to mission-critical enterprise and Web 2.0 applications and its DigitalOps® service platform combines end-to-end systems management workflow with a comprehensive customer portal. More information about Terremark Worldwide can be found at http://www.terremark.com.

Contacts:

Terremark Worldwide, Inc.
Media Relations:
Xavier Gonzalez, 305-961-3134
xgonzalez@terremark.com

Source: Terremark Worldwide, Inc.

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