What's going on with this ASX AI share on Monday?
DigiCo Infrastructure REIT (ASX: DGT) shares are starting the week in the red.
In morning trade, the ASX AI share is down 1% to $2.48.
What's going on with this ASX AI share?
Investors have been selling the data centre operator's shares today after broad weakness in the tech sector overshadowed the announcement of the appointment of its new CEO.
According to the release, the company has appointed Michael Juniper as the CEO of the DigiCo Infrastructure REIT and managing director of digital infrastructure for HMC Capital Ltd (ASX: HMC), with immediate effect.
The release notes that Juniper brings more than two decades of experience in digital infrastructure.
He was a founding executive and deputy CEO at AirTrunk, where he helped build one of Asia-Pacific's leading hyperscale platforms. This includes expanding AirTrunk into major Asian markets including Japan, Singapore, Malaysia and Hong Kong, and partnering with the world's largest cloud and technology companies.
The ASX AI stock revealed that the decision to appoint Juniper as CEO followed his appointment as a senior executive and director in September.
It highlights that his experience, relationships, and track record in this sector make him ideally placed to lead the company.
Commenting on his appointment, Michael Juniper said:
I am honoured to assume the role of Chief Executive Officer of DGT. DGT is uniquely positioned as Australia's sovereign digital infrastructure platform, with strong foundations and a high-quality global portfolio. Demand from cloud, AI and GPU-led workloads is accelerating, and DGT is building a future-ready organisation that is required to support these next-generation requirements.
Innovative energy solutions are becoming critical differentiators for our customers, and DGT is uniquely placed to potentially leverage HMC's broader energy and transition platform to deliver long-term power certainty and sustainable growth at scale across cloud, AI and enterprise workloads. I look forward to working closely with the Board, our customers, government and our talented team as we create value for our securityholders in our next phase of growth.
The ASX AI share's chair, Joseph Carrozzi AM, was pleased with the appointment.
He believes that Juniper will able to deliver on the next phase of the DigiCo Infrastructure REIT's strategy. Carrozzi said:
We are pleased with the appointment of Michael to lead the next phase of DGT's strategy. His exceptional track record in building hyperscale platforms across the region makes him uniquely qualified to guide DGT through the growth ahead. We thank Chris for his leadership and contribution to DGT, having led the company through its IPO and foundation period as a listed entity. We look forward to his continued contribution in this important new government-facing role.
The post What's going on with this ASX AI share on Monday? appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended HMC Capital. The Motley Fool Australia has recommended HMC Capital. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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