A proxy advisory firm, Glass Lewis, said on Tuesday it wanted to see Crown Castle (NYSE: CCI) investors name former CEO Ted Miller, to the board along with another activist director candidate, according to Reuters. Miller’s Boots Capital, is lobbying Crown investors to add himself, his son-in-law and along with two others to the board at the company’s upcoming May 22 election.
Glass Lewis cited both Miller’s expertise in the tower industry and that of former Crown CFO Charles Green as adequate qualifiers to their nomination. The report from Glass Lewis stated that Miller has “put forth a credible slate of nominees, as well as reasonable suggestions for the company that we believe should earnestly warrant greater consideration by the board.”
Institutional Shareholder Services, a Glass Lewis competitor, backed all of the board nominees suggested by Crown and rejected those presented by Boots Capital arguing the company responded adequately to criticisms brought by Elliott Management in December. In the past quarter, Crown has hired a new CEO, made board changes and is reviewing the potential sale of its fiber business, all at Elliott’s recommendation.
Miller said shareholders deserve a “more capable board with a detailed plan that will help restore credibility, leadership, and operational excellence to Crown Castle and create long-term value.”
Crown Castle had no comment on the report, according to Reuters.
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