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New DataBank CFO Ben Lowe, left, takes over finance from Kevin Ooley, center, who becomes CEO in 2027. Current CEO Raul Martynek, right, will become executive chairman. [Photos: DataBank, Dallas Innovates files]<\/p>\n
Dallas-based data center company DataBank just tapped a new chief financial officer as its president and CFO prepares to assume the CEO role.<\/p>\n
Ben Lowe, the new CFO, succeeds Kevin Ooley, who joined DataBank in 2011 as CFO and added president to his responsibilities in 2017. Ooley will become CEO on Jan. 1, 2027. He will replace CEO Raul Martynek, who\u2019s making a planned transition to executive chairman.<\/p>\n
Lowe comes to DataBank from Radius Global Infrastructure, a telecommunications and digital infrastructure investment company based in suburban Philadelphia. He most recently was Radius\u2019 CFO. Before that, he was senior vice president of corporate finance and treasurer at Houston-based Crown Castle, which owns and operates a U.S. network of wireless towers.<\/p>\n
\u201cBen possesses a mix of industry knowledge, financial acumen and capital markets experience that will be incredibly valuable for DataBank as we enter this next chapter,\u201d Ooley said in a statement. \u201cHis proven ability to access both public and private markets and his track record of synthesizing capital with strategy will be critical as we navigate this next phase of evolution.\u201d<\/p>\n
\u2018Next era of growth\u2019<\/p>\n
Lowe joins DataBank at a critical juncture for the company and the industry.<\/p>\n
\u201cDataBank\u2019s U.S. data center infrastructure footprint is unparalleled, and the company has a rich history of building long-term relationships with customers and capital markets alike,\u201d Lowe said in a statement. \u201cThis is an incredible platform and track record upon which to chart the next era of growth, and I\u2019m incredibly excited to be joining at such a monumental time.\u201d<\/p>\n
Martynek praised Lowe and Ooley as the right leaders \u201cto champion DataBank\u2019s next phase of growth.\u201d<\/p>\n
Lowe and Ooley are stepping into their new roles as the data center industry explodes. A recent forecast<\/a> from Grand View Research estimates the U.S. data center market will grow from $126 billion in 2025 to nearly $276.5 billion by 2033.<\/p>\n Growth mode<\/p>\n DataBank, named to the Inc. 5000 list of the country\u2019s fastest-growing private companies in 2024, continues to expand to accommodate greater demand for data centers. DataBank made the list by recording a three-year revenue growth rate of 206%.<\/p>\n Today, the company operates more than 70 data centers in over 25 markets, with more data centers on the way.<\/p>\n In June, the company closed $1.45 billion in financing<\/a> to fuel growth. The financing package consists of an $800 million revolving credit facility and a $650 million upsizing of a $2 billion loan<\/a> for construction of DataBank\u2019s data center campus in Red Oak.<\/p>\n In April, the company announced a joint venture with Australia\u2019s Goodman Group<\/a> to develop a 32-megawatt data center in the Los Angeles area.<\/p>\n Last year, DataBank made headlines for giving nearly 1,000 of its employees part ownership of the company. The DataBank Employee Ownership Program<\/a> offers a one-time bonus of up to 12 months\u2019 compensation in addition to salary and benefits if the company completes a qualifying transaction.<\/p>\n \tR E A D\u00a0\u00a0 N E X T\t<\/p>\n
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