Equinix Executive Backaus to Depart

Equinix, Inc. (EQIX) said that chief business officer Margie Backaus has decided to step down and will leave the company at the end of the year. Backaus plans to take some time off and then pursue new opportunities. Equinix will initiate a search for an executive to fill Backaus' role.

Backaus has led the development of the Equinix product offerings and brand, as well as the company's communications and investor relations program. Backaus joined the company in 1999, and was part of the executive team that led Equinix through the technology downturn and successfully restructured the company.

"For the past nine years, Margie has played a significant role with the executive management team that brought Equinix from a small startup to what is now a multi-billion dollar market cap leader," said Steve Smith, president and CEO of Equinix. "Her strong leadership and strategic vision have helped Equinix achieve the global market leadership position it holds today. With Margie's assistance, we will be working together over the next five months to ensure a smooth transition."

"Equinix is an incredible success story and I am proud to have been a part of the executive team that built this company into what it is today," said Backaus. "After nine years at Equinix, I have accomplished what I originally set out to do and am ready for a new challenge. My time at the company has been very rewarding, and I am pleased to leave at a time when the company is in the strongest position I have seen during my tenure to leverage the tremendous growth opportunities of this market."

It will be interesting to see what the "new challenge" turns out to be.

Equinix announced several additional executive appointments: