HOUSTON - Crown Castle Inc. (NYSE: NYSE:CCI), a leading provider of wireless infrastructure, has filed preliminary proxy materials with the Securities and Exchange Commission (SEC) ahead of its Annual Meeting of Stockholders scheduled for May 22, 2024. The company's board has nominated 12 directors for election, advocating for shareholder votes in favor of these nominees via the WHITE proxy card.
The nominees represent a diverse group with experience in telecommunications, real estate, strategic planning, finance, and technology, tasked with overseeing Crown Castle's strategic execution. The board has urged shareholders to review the preliminary proxy materials available on the SEC's website for more information.
In a letter to shareholders, Crown Castle outlined its recent efforts to enhance shareholder value, including a strategic review of its fiber and small cell business with the assistance of Morgan Stanley (NYSE:MS), BofA Securities, and other advisors. The company is also in the process of selecting a new CEO, with updates on these initiatives expected soon.
The letter also addressed claims made by Ted Miller and Boots Capital Management, LLC, suggesting that some of Miller's statements were misleading. Crown Castle detailed its extensive engagement with Miller and Boots Capital, including discussions and meetings to consider their proposals. The company refuted Miller's claims about board engagement, a proposed fiber business sale, and potential tax benefits from such a sale.
Crown Castle emphasized its commitment to correcting any misleading information and expressed confidence in its ongoing actions to position the business for long-term success. It recommended that shareholders discard any proxy materials from the "Boots Group," which includes Boots Capital and affiliates.
The company, which operates over 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions, is a key player in the U.S. communications infrastructure sector. The information for this article is based on a press release statement.
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