American Tower Corporation (NYSE:AMT) today announced that Jim Taiclet will be transitioning from his roles as President, Chief Executive Officer and executive Chairman of the Board. The Company’s Board of Directors has named Tom Bartlett to succeed Taiclet as President and Chief Executive Officer, effective immediately. Taiclet, who currently serves on the Board of Lockheed Martin, will become its President and Chief Executive Officer, replacing Marillyn Hewson.
Bartlett has served as American Tower’s Executive Vice President and Chief Financial Officer for over ten years, joining the Company from Verizon Communications, Inc. in April 2009 after 25 years. During Bartlett’s tenure and leadership, American Tower’s total revenues have grown by 375 percent and its enterprise value has expanded to $128 billion from $16 billion. Total stockholder return during this period was approximately 800 percent. Rod Smith, the Company’s current Senior Vice President, Corporate Finance and Treasurer will become the new Executive Vice President, Chief Financial Officer and Treasurer. Mr. Smith has been with the Company for more than ten years, including serving as Chief Financial Officer of the Company’s U.S. Tower Division.
Taiclet joined American Tower in 2001 as President and Chief Operating Officer and became its Chief Executive Officer and Chairman in 2003, succeeding company founder Steven Dodge. Taiclet will continue as executive Chairman until the company’s 2020 annual meeting, after which point, Pamela Reeve, the Company’s current lead independent director, will become non-executive Chair of the Board, subject to her re-election as a director at the annual meeting.