14 WISPAMERICA I MARCH 4 - 7, 2024 www.bekabusinessmedia.com DAY 1 Crown Castle confirmed that Boots Capital Management, which is led by Crown Castle co-founder Ted Miller, has nominated four candidates to stand for election to Crown Castle’s board of directors at its annual meeting of shareholders. Miller resigned as CEO and director in 2001 and 2002, respectively. After careful consideration of Miller and his nominees, including interviews by members of the Crown Castle board, it was unanimously voted not to recommend anyone from the Boots Capital slate for election. The Crown Castle board and management team noted that they are confident in the actions the company is taking to remain well positioned for longterm success and shareholder value creation. In particular, during the last two months the company has made significant strides forward toward creating a stronger and more valuable Crown Castle, including: • Initiating a comprehensive strategic and operating review of the fiber business, the formation of a fiber review committee and the appointment of Paul, Weiss, Morgan Stanley, BofA Securities and leading industry consultants to advise on the fiber review process. • Appointing three new independent directors, resulting in seven of the 12 directors being appointed to the Board since 2020. Crown Castle’s three recent board member additions include Sunit Patel, the former CFO of Level-3 and former EVP of T-Mobile; Jason Genrich, a shareholder representative from one of the company’s largest investors, Elliott Investment Management and Bradley Singer, the former CFO of American Tower and former COO and an investment partner at ValueAct Capital. • Naming Tony Melone as interim CEO following the retirement of former CEO, Jay Brown, and forming a CEO search committee, which has hired a leading executive search firm to help identify the next CEO of Crown Castle. The Crown Castle board and management team value constructive dialogue with shareholders and regularly engage with an open mind to better understand their perspectives on the company’s strategy, performance and business objectives. Accordingly, members of the board and management team have engaged in multiple discussions with Miller since late last year, including providing he and his director candidates and advisors the opportunity to make a presentation to the board. Crown Castle Provides Update on Efforts to Enhance Shareholder Value (Continued on page 17)
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