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Iron Mountain Inc (IRM) CEO Bill Meaney Presents at Stifel 2020 Virtual Cross Sector Insight Conference (Transcript)

Jun. 08, 2020 4:41 PM ETIron Mountain Incorporated (IRM)
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Iron Mountain Inc (NYSE:IRM) Stifel 2020 Virtual Cross Sector Insight Conference Call June 8, 2020 11:20 AM ET

Company Participants

Bill Meaney - President and Chief Executive Officer

Conference Call Participants

Shlomo Rosenbaum - Stifel

Shlomo Rosenbaum

[Abrupt Start] for making himself available to answer our questions, join the chat, talk to investors. What I am going to do is I am going to open it up for Bill just to give us a quick overview of Iron Mountain literally a minute or two and then jump into some questions. I want to let the investors know that you can submit questions via the webcast through the site and I will present those questions to Bill Meaney. So, if you submit them, they come up, I see them, I will read them and we will put them out there. So with that, I am just going to open up. Bill, if you don’t mind, just giving us the really quick lowdown on Iron Mountain?

Bill Meaney

Okay. Thanks, Shlomo. Okay, So, again, those of you are new to the story. So we are approaching 70 years old. We are in the S&P 500 and the [indiscernible] or the REIT Index. I mean, we are in about 50 countries and have 225,000 customers around the world. The other thing I would say in terms of the customers, we have about 2% churn, so that means that our customers have been customers of ours for decades. So, if you take a step back, how do we think about the assets that we have are the major assets we have in the company. I would say that we really have three major assets. One, first and foremost is our people what we call mountaineers and you will leave and see that during the current thing I would say is when the crisis or our customers are in crisis is you see the resiliency of the

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