UPDATE Crown Castle Inc. (NYSE: CCI) announced yesterday that, based on preliminary information from the Company’s proxy solicitor, Crown Castle’s entire slate of 12 nominees has been elected to the company’s Board of Directors at the 2024 Annual Meeting of Stockholders.
Former Crown Co-founder and CEO Ted Miller, operating under the name of his investment company, Boots Capital Management, LLC, has been a vocal opponent of the Crown nominees saying in a recent letter to shareholders: “The Board’s sum of towers-operating experience from one board member is just seven years. And only one current director has been a public company CEO – of a bank. This is a $75 billion enterprise with virtually no senior leadership experience running either public or tower companies.”
Miller promoted the election of four nominees, including himself, that he said had over 50 combined years of “direct and unrivaled leadership” in the tower space and “were at the founding of the industry itself.”
Crown Castle issued the following statement:
“We thank our shareholders for the trust they have placed in our highly qualified board members as they oversee the creation of a stronger, more valuable Crown Castle. Along with our new CEO, Steven Moskowitz, the board continues to take action, including conducting the strategic and operational review of our fiber and small cell business already underway, to improve performance and unlock shareholder value.
The results announced today are preliminary until final results are tabulated and certified by the independent Inspector of Election. Crown Castle will report voting results on a Form 8-K filed with the Securities and Exchange Commission in the coming days.”
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