Digital infrastructure compant Equinix, Inc announces that it has entered into a retention and separation agreement with Sara Baack, Chief Product Officer of the company.
Pursuant to the terms of the Agreement, Ms Baack will transition from her role of Chief Product Officer after September 24, 2021 and will serve in an advisory capacity to Equinix’s Chief Executive Officer until March 2, 2022.
During this transition period, Ms Baack will be entitled to her regular salary and benefits. In addition, Ms. Baack will be paid additional compensation and benefits described in the Agreement, including: (i) 100% of her target annual incentive plan bonus for 2021; (ii) a one-time lump sum cash payment of $500,000 and (iii) premium payments under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) through 2022.
The Agreement also includes and references customary releases, representations, restrictive covenants, non-disparagement and confidentiality provisions.
During her tenure, Sara Baack has led the acquisition, integration and launch of Equinix Metal to expand the company’s edge services and continues to advance the reach and functionality of Equinix Fabric. She is also leading the effort to elevate the customer and partner experience with Platform Equinix – enabling foundational infrastructure provisioning around the globe with the ease of software.
She joined Equinix in 2012 as Chief Marketing Officer.
Sara Baack has more than 25 years of executive leadership in technology and communications, including at Level 3 Communications and in private equity for PaineWebber Capital (now UBS Group AG).
She was named as Silicon Valley Business Journal’s CMO of the Year and one of the Top 50 Most Powerful Women in Tech by the National Diversity Council. She holds a B.A. from Rice University and an M.B.A. from Harvard University Graduate School of Business.