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.
Fool contributor Eric Volkman has no position in Equinix. The Motley Fool recommends Equinix. 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.