Terremark Founder and CEO Steps Down

Terremark Worldwide Inc., a subsidiary of Verizon Communications Inc., 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,” Medina said. “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 provider of enterprise-class cloud computing solutions and fully managed cybersecurity services for large enterprises and government agencies.

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