Ted Miller, co-founder and former CEO of Crown Castle, has embarked on a proxy fight, highlighting concerns with the current state of the wireless-communications tower company. Miller expressed that Crown Castle is in need of stronger leadership, expertise, vision, and urgency to drive success.
Proposed Changes and Nominees
Miller intends to push for four board seats, aiming to bring about vital changes within the company. His nominees include himself, Chuck Green, his son-in-law Tripp Rice, and David Wheeler. Miller’s critique emphasizes the necessity for Crown Castle to recalibrate, particularly following what he referred to as a “shameful adventure into fiber.”
Company Response
In response to Miller’s proposed proxy fight, Crown Castle expressed confidence in its current strategies and corporate direction. The company highlighted recent advancements, such as the evaluation of its fiber business and the appointment of three new independent directors. Crown Castle emphasized its commitment to long-term success and shareholder value creation.
Rejection of Nominations
After careful deliberation, Crown Castle decided to reject the nominations made by Ted Miller and his proposed candidates. The company stands by its belief in the effectiveness of its current initiatives and the progress achieved thus far.
Conclusion
As Ted Miller calls for a reboot of Crown Castle and advocates for a shift in leadership approach, the future direction of the wireless-communications tower company remains in the spotlight. The ongoing dialogue between stakeholders and management underscores the importance of strategic decision-making for long-term sustainability and growth.
