fbpx
News Hub

Global Switch CEO, John Corcoran, announces retirement

Written by Tue 19 Dec 2023

Data centre provider, Global Switch, has announced the CEO of the company, John Corcoran, will be retiring from his role on 31 December 2023 after 20 years at the company. 

Global Switch announced Corcoran has left to pursue his private investment interests, several specific corporate projects, and charitable interests.

Corcoran’s charitable interests are focused on improving vocational and educational links between the UK and Australia.

After his retirement, Corcoran will remain Chairman of Global Switch Australia Holdings, the holding company of the Global Switch Australia group.

“I have been honoured to lead Global Switch over the last two decades, during which time it has been transformed from a loss-making enterprise into one of the most successful data centre companies in the world,” said Corcoran.

Global Switch said Corcoran transformed the data centre provider into one of the UK and Europe’s foremost tech unicorns.

Corcoran’s business model focused on fortifying and diversifying Global Switch’s customer base to secure sustainable and predictable cash flows.

Chairman of Global Switch, He Chunsheng, said Corcoran created a global leader through strong organic growth and has positioned the Company for future expansion. 

“Under his stewardship, the Company has also put sustainable design at the heart of the construction process and has a clear roadmap to achieve best-in-class environmental standards,” added Chunsheng.

Ashley Muldoon to be appointed CEO at Global Switch

Current Chief Operating Officer, Ashley Muldoon, will be appointed CEO at Global Switch and will join the board of the company. Shareholder approvals for his appointment are expected in the coming weeks.

“The leadership transition comes at an exciting time for Global Switch, as the growth in AI, coupled with our unique platform of irreplaceable data centre campuses in the Tier 1 markets, and our unrivalled customer base, provides exciting opportunities both in existing markets and across new markets to accelerate Global Switch into 2024 and beyond,” said Muldoon.

Muldoon has served as Chief Operating Officer at Global Switch for the past three years, overseeing international operations. He has 30 years of experience in data centre and real estate management.

Since joining Global Switch, Muldoon has broadened his role to include all aspects of the company’s global operations, investments, and delivery across Europe and Asia Pacific. 

Muldoon was formerly CEO of a major private equity-owned global construction and development company, Multiplex. He was responsible for positioning the company as a leading contractor in the UK, EMEA, and Canada.

Global Switch said there will be no changes to the strategic direction of the company following the management change.

Global Switch’s Data Centre Dealings

The company has a portfolio of 13 large-scale data centres, with a fourteenth data centre set to launch in Q1 2024.

Global Switch has generated around £275 million ($350 million) in annual earnings before interest, taxes, depreciation, and amortisation.

The data centre provider is also recognised as the last privately owned data centre platform with global scalability.

As of the most recent valuation on 31 December 2022, Global Switch’s investment property portfolio reached £6.6 billion ($8.4 billion).

This growth was financed through internal cash flow and debt issuances, with no additional equity raised since its inception.

In August, Stakeholders of Global Switch deliberated selling the data centre provider’s operations in Europe and Asia Pacific to different buyers in separate deals. 

According to sources at the time, each division could be valued at £2.3 billion ($3 billion).

Join Data Centre World

6-7 March 2024, ExCeL London

Experience the world’s largest gathering of data centre professionals and end-users.

Don’t miss your chance to carve out successful strategies and find solutions that future-proof your next generation of data centres.

Written by Tue 19 Dec 2023

Send us a correction Send us a news tip