Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
Equinix (NASDAQ: EQIX ) will have to make a little more room in its executive suite. The company announced it has created the position of chief operating officer and tapped Charles Meyers to fill it. Meyers is an executive at the firm, having most recently served as its president of the Americas.
In the press release announcing the news, the company said its creation of the COO position "is part of a reorganization designed to align the company globally to best serve the needs of Equinix customers." The firm's global sales, marketing, operations, and client services functions will all fall under the purview of the COO.
In addition to his new duties, Meyers will also serve as interim president of the Americas. Equinix said it is currently undergoing a search for a replacement.
According to an SEC filing made by the firm, as COO Meyers will be paid a base annual salary of $475,000. He has also received 8,000 restricted stock units to be vested in equal annual installments over four years, in accordance with the company's equity incentive plan. Additionally, he will be eligible for a cash bonus of up to 80% of his salary.