Iron Mountain to Switch CFOs at End of Month
Boston-based Iron Mountain Chief Financial Officer Brian P. McKeon is stepping down. McKeon, 51, has served as Iron Mountain's CFO since April 2007.
The document storage company announced Thursday that CFO McKeon is stepping down from his post on Oct. 31 "to pursue other opportunities." Taking his place on an interim basis will be Roderick Day, CFO of the company's International operations and a five-year veteran of the firm. McKeon plans to backstop Day through the end of this year to help ensure a smooth transition. Meanwhile, the company will be seeking a more permanent replacement.
In an SEC filing discussing McKeon's move, the company noted that the departing CFO will be entitled to severance benefits under its "Severance Program Number 1," which covers events of "termination of an executive's employment by the Company without cause or by the executive for good reason." Under this plan, McKeon will be entitled to severance benefits that include:
- one year's salary, bonus, and group health benefit continuation,
- one year's accelerated vesting of equity awards.
The article Iron Mountain to Switch CFOs at End of Month originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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