MEDIA RELEASE PR37815
Savvis Appoints Chairman of the Board as Interim CEO
ST. LOUIS, Jan. 11 /PRNewswire-AsiaNet/ --
Phil Koen Steps Down
Company Reiterates Fourth Quarter 2009 Guidance
SAVVIS, Inc. (Nasdaq: SVVS), a global leader in internet infrastructure services for
enterprises, today announced that James E. Ousley will serve as interim chief executive
officer following the departure of Phil Koen. Effective as of the close of business on
January 8, Koen resigned his positions with the company. The company's board of
directors has formed a succession committee to conduct a search for a new CEO.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090803/PH55929LOGO )
Jim Ousley has served as non-executive chairman of Savvis since May 2006 and as a
director since April 2002. In 2001, he was a founder of Vytek Wireless Corporation and
was president, chief executive officer and a director until 2004. In addition, Ousley
previously served as CEO and president of Syntegra Inc. (USA) and as president and CEO
of Control Data Systems. Ousley also held various executive roles at Control Data
Corporation (Ceridian Corporation) in global sales and marketing, mergers and
acquisitions, and business development. Throughout his career he has helped form and
direct numerous IT product and service joint ventures in the U.S., Asia, India and
Europe. Ousley is a seasoned executive with more than 35 years of experience leading
global technology companies. He currently serves on the boards of ActivIdentity Corp.,
Bell Microproducts, Inc. and Datalink, Inc.
"The board is grateful to Phil for his service to the company, particularly during
these challenging economic times," said Jim Ousley, interim CEO of Savvis. "Phil built
a solid foundation for Savvis, as he transformed it into an IT infrastructure services
company with a dedicated focus on cloud computing. He helped put in place a strong,
experienced and stable management team and a strategic vision for the future, which we
plan to expand on in 2010."
"We would like to take this time to reaffirm our 2009 guidance, which calls for
adjusted EBITDA of $215 to $220 million, total cash CAPEX guidance between $120 and $140
million, cash interest expense of approximately $40 to $45 million, and adjusted free
cash flow of $40 to $50 million," said Greg Freiberg, chief financial officer of Savvis.
"We will provide our 2009 results - including details around fourth quarter bookings,
which were the best the company has seen in 18 months - and specifics regarding our 2010
plan, during our fourth quarter 2009 earnings call, which will be held on February 3."
"I joined Savvis in 2006, with the objective to build a better company and to
develop a world class team dedicated to meeting and exceeding our customers' diverse
requirements for IT infrastructure services," said Phil Koen. "In consultation with our
board of directors - and knowing we have a very strong leadership team in place - this
is an excellent time for me to move on to a new opportunity and to watch Savvis continue
to grow and excel."
Interim CEO Jim Ousley, and other executive team members, will be discussing the
announcement during an investor webcast at 8:30 a.m. ET on January 11, 2010. The
webcast will be available at savvis.net on the Investor Relations page. A live
conference call will also be available by telephone at (866) 259-1024 for financial
analysts in North America or (703) 639-1218 for international analysts. A replay will
be available on the Web site for six months. Investors may also access the replay by
telephone through January 18, by dialing (888) 266-2081 in North America or (703) 925-
2533 internationally and using the access code 1425981.
About Savvis
Savvis, Inc. (Nasdaq: SVVS) is a global leader in internet infrastructure services
for enterprises. More than 4,000 customers, including 40 percent of the top 100
companies in the Fortune 500, use Savvis to reduce capital expense, improve service
levels and harness the latest advances in cloud computing. For more information visit
Savvis Forward-Looking Statements
This document may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Actual results may differ materially
from Savvis' expectations. Certain factors that could affect actual results are set
forth as risk factors in Savvis' SEC reports and filings, including its annual report on
Form 10-K and all subsequent filings as well as the risk that potential product cost and
performance benefits may not be realized for any particular customer. Savvis assumes no
obligation to update or supplement forward-looking statements. The guidance expressed
in this press release is subject to final closing of the financial statements and
completion of the annual audit of the company's financial statements. Savvis plans to
issue its full fourth quarter and fiscal 2009 financial and operating results on
February 3, 2010. Further information regarding the fourth quarter and full year
results will be available on the company's quarterly earnings conference call with the
investment community scheduled for February 3, 2010.
SOURCE Savvis, Inc.
CONTACT: Investors: Peggy Reilly Tharp, +1-314-628-7491, peggy.tharp@savvis.net,
Media: Carter Cromley, +1-703-667-6110, carter.cromley@savvis.net
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