Who is Steven (Terry) Clontz and what is his background?

Steven (Terry) Clontz is the President and Chief Executive Officer of StarHub Ltd. He has been elected to the Equinix Board of Directors, effective April 21, 2005.

How does Mr. Clontz's appointment affect the Equinix Board of Directors?

Mr. Clontz's election fills a vacancy on the Board, increasing its total membership to nine directors. He is not currently assigned to any standing committees.

What is the nature of the business relationship between Equinix and StarHub Ltd.?

For the year ended December 31, 2004, Equinix recognized $129,000 in revenue from StarHub Ltd. and its subsidiaries, with $13,000 in accounts receivable. Conversely, Equinix made purchases from StarHub totaling $441,000, with $230,000 in accounts payable.

Is there any potential conflict of interest with Mr. Clontz serving on the board while Equinix does business with StarHub?

The filing discloses the financial interactions between Equinix and StarHub. Investors should consider these related-party transactions. However, the nature of the appointment and disclosure suggests that the company has addressed any immediate concerns regarding potential conflicts.

EQIX 8-K: Leadership Changes

Summary

Equinix, Inc. (EQIX) filed an 8-K on April 25, 2005, to report the election of Mr. Steven (Terry) Clontz to its Board of Directors, effective April 21, 2005. This addition expands the Board to nine members and fills a previously existing vacancy. Mr. Clontz brings significant executive experience, currently serving as President and Chief Executive Officer of StarHub Ltd. While Mr. Clontz's directorship is the primary focus of this filing, the report also discloses Equinix's financial interactions with StarHub Ltd. for the year ended December 31, 2004. These interactions include relatively minor revenues and accounts receivable for Equinix from StarHub, and comparable purchases and accounts payable from StarHub by Equinix, indicating a pre-existing business relationship. The filing also lists an accompanying press release as an exhibit detailing this board appointment.

Key Highlights

1Equinix, Inc. appointed Mr. Steven (Terry) Clontz to its Board of Directors, effective April 21, 2005.
2Mr. Clontz's appointment fills a vacancy, bringing the total number of directors to nine.
3Mr. Clontz is currently the President and Chief Executive Officer of StarHub Ltd.
4The filing discloses Equinix's financial dealings with StarHub Ltd. for the year ended December 31, 2004, indicating a customer/supplier relationship.
5Revenues from StarHub to Equinix were $129,000 in 2004.
6Purchases from StarHub by Equinix were $441,000 in 2004.
7A press release dated April 25, 2005, announcing the board election is included as an exhibit.

EQUINIX INC 8-K Report, Executive Changes (Apr 25, 2005)

Summary

Key Highlights

Frequently Asked Questions