Medina promoted to executive chairman of Cyxtera
Cyxtera founder and CEO Manuel Medina (pictured above) has been promoted to the role of executive chairman for both Cyxtera and its cybersecurity business AppGate.
In his new role, Medina will provide strategic guidance and counsel for the two companies.
“Our recently announced spin-out of our cybersecurity business positions both Cyxtera and AppGate to take advantage of unique and substantial growth opportunities and to drive innovation and change into their respective sectors,” said Medina. “I’m looking forward to working closely with both teams as we continue to transform the cybersecurity and data centre industries, and I am delighted that my long-time friend and colleague Nelson Fonseca will take the reins as Cyxtera CEO.”
Succeeding Medina as CEO is current president and chief operating officer Nelson Fonseca (pictured below). Fonseca has more than 20 years of experience as an executive in the IT infrastructure sector. He previously served in several leadership positions alongside Medina at Terremark, ultimately as president of the Verizon Terremark unit after Verizon’s acquisition of the company for $2 billion.
“I’m excited to have the opportunity to lead a great company and global provider of colocation services,” added Fonseca. “The team and I look forward to building on our position as a market leader in retail colocation by expanding our highly-connected data centre footprint, broadening our global partner ecosystem, and further innovating our CXD platform to deliver a truly world-class customer experience.”
At the start of the month, Cyxtera confirmed its plans to spin out its cybersecurity business into a separate company to accelerate its activities in the industry. AppGate shares the same ownership structure as the Cyxtera business, led by private equity firms BC Partners and Medina Capital, while the spin out will allow each organisation to pursue the most appropriate business strategy to leverage its respective market opportunity.