Former CyrusOne CEO will support Talen's clean energy and digital infrastructure transformation, balance sheet restructuring process and enterprise value growth initiatives
THE WOODLANDS, Texas, April 4, 2022 /PRNewswire/ -- Talen Energy ("Talen" or "the Company") announced today that Gary Wojtaszek, former CEO of CyrusOne, a $15 billion data center technology real estate investment trust (REIT) that serves Fortune 1000 companies worldwide, has joined the Talen Energy Supply ("TES") Board of Directors as an independent director. Mr. Wojtaszek joins Carol Flaton, who was appointed as independent director on the TES Board in November 2021.
"I am pleased to welcome Gary to the TES Board," said Alex Hernandez, Chief Executive Officer, President, and Director of TES. "Our Company is at an important inflection point as we transition from an operational turnaround to strategically re-positioning Talen for long-term value creation. Talen's transformation and liability management initiatives create significant opportunities for growing Talen's enterprise value. We are actively working to address the balance sheet with capital to drive the long-term success of the Talen-Cumulus platform and our people," continued Hernandez. "Gary's leadership capabilities, financial acumen, track record of value creation, and digital infrastructure industry experience will bring a valuable perspective to the Board during this critical time."
"Talen is poised to re-position itself for long-term value creation as a clean energy and digital infrastructure platform. There are many parallels to draw between Talen's current strategy and my 12 years at CyrusOne. We had humble beginnings as a small $500 million enterprise value business that spun out of the legacy Cincinnati Bell telecom utility. Nearly a decade later, we had transformed the business to the 3rd largest data center platform globally, resulting in the eventual sale of CyrusOne for $15 billion this year," said Wojtaszek. "I have followed Talen's progress closely over the last two years and have high confidence in Alex and his team as management executes this next chapter. I also look forward to collaborating with Carol, the Board and the Company's key stakeholders to address the balance sheet and position the Company for the future," Wojtaszek continued.
Mr. Wojtaszek has extensive experience founding, growing, leading, and monetizing private and public companies of scale. From August 2011 to February 2020, he served as President and Chief Executive Officer of CyrusOne, Inc., a real estate investment trust that builds and manages carrier-neutral hyperscale data centers globally. Prior to CONE, Mr. Wojtaszek served as chief financial officer and board member of Cincinnati Bell Inc., where he had responsibility for the data center business and oversaw CyrusOne's successful creation, spin-off, and IPO.
Before joining Cincinnati Bell in July 2008, he was senior vice president, treasurer, and chief accounting officer for the Laureate Education Corporation from 2006 to 2008 helping with the leveraged buyout of the company to KKR. He worked at Agere Systems, the semiconductor and optical electronics communications division of Lucent Technologies, from 2001 to 2008, which was subsequently spun off through an IPO. While at Agere Systems, Mr. Wojtaszek worked in a number of senior finance positions, helping with the restructuring and repositioning of the company following the 2001 financial crisis. Mr. Wojtaszek started his career in the General Motors New York treasury group and joined Delphi Automotive Systems as the regional European treasurer in connection with the initial public offering and spin-off of Delphi Automotive Systems from General Motors.
Mr. Wojtaszek currently serves on the Board of GDS Holdings Ltd., an integrated provider of high-performance data centers based in China and serving the Asia Pacific region. He also is a Board member of Quantum Loophole, developer of master planned data center communities in the U.S, and Poema Global and Infra Tech Partners. Mr. Wojtaszek serves as an industry advisor to global investment firm, The Carlyle Group, Inc. and Actis, a leading global investor in sustainable infrastructure.
Mr. Wojtaszek is the founder and CEO of Recreational Realty, which designs, builds, and operates premium class facilities geared towards the needs of the recreational vehicle enthusiast.
About Talen Energy
Talen, through its subsidiary, TES, is one of the largest competitive power generation and infrastructure companies in North America. TES owns and/or controls approximately 13,000 megawatts of generating capacity in wholesale U.S. power markets, principally in the Mid-Atlantic, Texas and Montana.
Through its subsidiary, Cumulus Growth, Talen is developing a large-scale portfolio of renewable energy, battery storage, and digital infrastructure assets across its expansive footprint. For more information, visit https://www.talenenergy.com/esg-focused-future/
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This press release includes "forward-looking statements." All statements, other than statements of historical fact, included in this press release that address activities, events or developments that TES expects, believes or anticipates will or may occur in the future, as well as aspirational goals, are forward-looking statements. These statements are based on certain assumptions made by TES based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. TES undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the issuance of this press release, except as required by law.
SOURCE Talen Energy