DALLAS, Jan. 06, 2025 (GLOBE NEWSWIRE) — Applied Digital Corporation (Nasdaq: APLD), a designer, builder and operator of next-generation digital infrastructure for HPC applications, today welcomes Laura Laltrello as the Company’s new Chief Operating Officer (COO). The onboarding of Ms. Laltrello is intended to enhance the Company’s position as a leader in next-generation data centers and digital cloud solutions at the forefront of the AI revolution.
As COO, Ms. Laltrello will work closely with the Applied Digital leadership team to drive the execution of the Company’s strategic vision and oversee all aspects of day-to-day operations. She brings to her new role nearly 20 years of executive leadership experience, an ability to execute complex strategies, and deep expertise in data center operations, building technologies, and large-scale infrastructure projects.
“We are pleased to welcome Laura as we expand our Applied Digital leadership team with a focus on dedicated skills and expertise to complement our existing strengths and drive innovation across all areas of our business,” said Wes Cummins, Chairman and CEO of Applied Digital. “We firmly believe Laura will be instrumental in translating our vision into actionable plans and ensuring the alignment of operational efforts with long-term objectives, helping to accelerate our growth as an AI Factory pioneer.”
Most recently, Ms. Laltrello held the position of Vice President and General Manager of Building Automation Services with Honeywell International Inc., a Fortune 500 company that invents and manufactures technologies to address tough challenges linked to global macrotrends such as safety, security, and energy. Her career spans a range of senior leadership positions where she has led teams to deliver transformative projects and services for global technology leaders, demonstrating an exceptional track record in operations, strategic execution, and profit management. Ms. Laltrello holds a Bachelor of Applied Science degree in Applied Mathematics: Operations Research and Economics from Clemson University and completed the Executive Leadership Program at the International Institute for Management Development.
“I am excited to join Applied Digital and collaborate with the team to realize the Company’s vision to revolutionize accelerated computing,” said Ms. Laltrello. “I look forward to leveraging my experience to help Applied Digital scale operations, optimize performance, and deliver sustained growth for the future.”
In connection with the appointment of Ms. Laltrello as COO effective January 6, 2025, the Company granted Ms. Laltrello an employment inducement award consisting of 600,000 time-based restricted stock units (“RSUs”), with an effective grant date of January 6, 2025. The RSUs will vest over a three-year period, subject to Ms. Laltrello’s continuous employment on each applicable vesting date.
The inducement award to Ms. Laltrello was granted as a material inducement to her acceptance of the offer of employment by the Company and was approved by the Company’s Board of Directors on December 27, 2024. The award was granted outside of the Company’s equity incentive plan, in accordance with Rule 5635(c)(4) of The Nasdaq Stock Market LLC.
About Applied Digital
Applied Digital (Nasdaq: APLD) develops, builds and operates next-generation data centers and cloud infrastructure. Different by design, the company’s purpose-built facilities are engineered to unleash the power of accelerated compute and deliver secure, scalable and sustainable digital hosting, along with turnkey CSaaS and GPU-as-a-Service solutions. Backed by deep hyperscale expertise and a robust pipeline of available power, Applied Digital accommodates AI Factories and beyond to support the world’s most exacting AI/ML, blockchain and high-performance computing (HPC) workloads. To learn more, visit www.applieddigital.com.
