Crown Castle urges shareholders to vote for director nominees

Crown Castle filed its preliminary proxy materials with the Securities and Exchange Commission in connection with its 2024 Annual Meeting of Stockholders to be held on May 22, 2024. In connection with the filing, the Company announced that the Board has nominated 12 directors to stand for election at the Company’s Annual Meeting. Additionally, the Company issued the a letter to Crown Castle Shareholders, which lays out the steps that the Board is currently taking to create shareholder value and aims to set the record straight regarding certain statements made by Ted Miller and Boots Capital Management. The letter read in part, “The Crown Castle Board and management team believe that we have made significant strides over the last three months toward creating a stronger and more valuable company. We remain focused on the comprehensive strategic and operating review of the fiber and small cell business, in conjunction with Morgan Stanley, BofA Securities, Paul, Weiss and leading industry consultants. We also remain focused on the search for the Company’s next CEO with the support of a leading executive search firm. We expect to share an update on the progress of these initiatives in the near future. The Board values feedback from all of its shareholders, and as we advance these initiatives, we are committed to acting in our shareholders’ best interests by positioning Crown Castle for long-term success and value creation. Recently, Boots Capital and in particular one of its principals, Ted Miller, have publicly provided suggestions regarding our fiber and small cell business and the operations of our tower business. We believe a number of these statements are misleading to the market, and we want to ensure our shareholders have heard all of the facts…The Company is committed to correcting the record in the future as necessary. We remain confident that the actions we are already taking to orient the business for long-term success, which are in line with those suggested by Boots Capital, will enhance shareholder value and build on the Company’s strong foundation.”