Hossein Fateh has resigned from wholesale data center company
DuPont Fabros Technology, Inc. (DuPont). DuPont, which has headquarters in Washington, United States, specializes in outsourced “enterprise-class, carrier-neutral, large multi-tenant wholesale” data center management services. The company is involved in real estate investment and owns, develops, operates and manages wholesale data centers. Its customers are generally technology companies who house computer servers in DuPont’s centers. Mr. Fateh was Vice Chairman of the company and on its Board of Directors. He was also a co-founder of the company.
A legal report filled with the U.S. Securities and Exchange Commission (SEC) suggested Mr. Fateh recently sold shares to a value of $4,817,178 (149,186 shares at around $32.3 per share). Some reports suggested the size of Mr. Fateh’s stock sale might mean he is less than optimistic about DuPont’s future. "I am very proud of the company that Lammot du Pont and I founded," he suggested in a statement. "I believe that DFT is well positioned to take advantage of the market opportunities being created by the growth in cloud computing and data capacity requirements, as well as the evolution of data center outsourcing. DFT has a compelling strategic plan and a solid leadership team. With the succession process completed, I now can devote my attention full time to other interests."
"We are grateful for Hossein Fateh's leadership and many contributions to DuPont Fabros Technology," added the Chairman of DuPont’s Board and fellow co-founder Lammot J. du Pont. "As DFT's first Chief Executive Officer, Hossein led the Company through a period of significant growth and through the aftermath of the 2008 global financial crisis. He was a pioneer in the data center sector and an innovator of data center design. His leadership has left a lasting mark on the Company and the industry. In the eight years since our IPO, the Company's data center portfolio has grown three times in size. DFT has become the wholesale data center provider of choice for many of the world's leading technology, Internet and enterprise companies."
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