Crown Castle appoints Dan Schlanger as interim CEO following Steven Moskowitz's termination; a search for a successor is underway.
Quiver AI Summary
Crown Castle Inc. has appointed Daniel Schlanger, the current Executive Vice President and Chief Financial Officer, as interim President and CEO following the termination of Steven Moskowitz from that role. The Board of Directors has begun a search for a permanent CEO, enlisting an executive search firm to assist in the process. This leadership transition aims to facilitate the sale of the company’s small cells and fiber solutions businesses, allowing Crown Castle to focus on becoming a pure-play U.S. tower company. The Board expressed confidence in this strategic direction and reaffirmed financial guidance and capital allocation policies. Schlanger will retain his CFO position until April 1, 2025, and is expected to take on the role of Chief Transformation Officer once a new CEO is appointed. His appointment is not associated with any ethical issues related to the company.
Potential Positives
- Appointment of Dan Schlanger as interim CEO provides continuity in leadership during a critical transition period.
- Reaffirmation of financial guidance and capital allocation policies demonstrates stability and confidence in the company's strategic direction.
- The planned transformation into a pure-play U.S. tower company positions Crown Castle for focused growth in a key market for wireless infrastructure.
- Dan Schlanger's background and experience are expected to facilitate a smooth transition and completion of the company's strategic objectives related to the sale of its fiber solutions business.
Potential Negatives
- The abrupt leadership change with the termination of the former CEO may create uncertainty among investors and stakeholders regarding the company's stability and direction.
- The company's need to appoint an interim CEO and search for a permanent successor could suggest internal leadership challenges, potentially affecting company morale and strategic execution.
- The transition to a pure-play U.S. tower business involves significant changes and the sale of core business segments, which may alarm investors about the company's long-term strategy and market positioning.
FAQ
Who is the new interim CEO of Crown Castle?
Daniel Schlanger, the current Executive Vice President and CFO, has been appointed as the interim CEO.
Why was Steven Moskowitz terminated as CEO?
Steven Moskowitz's termination was not due to disagreements over policies or financial performance.
What is Crown Castle's transformation plan?
Crown Castle is transforming into a pure-play U.S. tower business by selling its small cells and fiber solutions.
What will Dan Schlanger do after the CEO transition?
After the CEO transition, Schlanger will become the Chief Transformation Officer overseeing the fiber business sale.
Is Crown Castle maintaining its financial guidance?
Yes, Crown Castle reaffirms all recently announced financial guidance and capital allocation policies.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CCI Congressional Stock Trading
Members of Congress have traded $CCI stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $CCI stock by members of Congress over the last 6 months:
- REPRESENTATIVE GILBERT RAY CISNEROS, JR. purchased up to $15,000 on 01/24.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$CCI Hedge Fund Activity
We have seen 421 institutional investors add shares of $CCI stock to their portfolio, and 728 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAPITAL WORLD INVESTORS removed 7,269,146 shares (-64.9%) from their portfolio in Q4 2024, for an estimated $659,747,690
- VANGUARD GROUP INC added 5,934,615 shares (+10.5%) to their portfolio in Q4 2024, for an estimated $538,625,657
- BLACKROCK, INC. added 3,837,631 shares (+9.2%) to their portfolio in Q4 2024, for an estimated $348,303,389
- WELLINGTON MANAGEMENT GROUP LLP added 3,321,249 shares (+18.9%) to their portfolio in Q4 2024, for an estimated $301,436,559
- JPMORGAN CHASE & CO removed 2,511,542 shares (-66.2%) from their portfolio in Q4 2024, for an estimated $227,947,551
- AMERIPRISE FINANCIAL INC removed 2,358,442 shares (-79.5%) from their portfolio in Q4 2024, for an estimated $214,052,195
- FMR LLC removed 2,183,566 shares (-15.3%) from their portfolio in Q4 2024, for an estimated $198,180,450
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$CCI Analyst Ratings
Wall Street analysts have issued reports on $CCI in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- JMP Securities issued a "Outperform" rating on 01/27/2025
- Barclays issued a "Overweight" rating on 01/13/2025
- Citigroup issued a "Buy" rating on 10/17/2024
- Cowen & Co. issued a "Buy" rating on 10/17/2024
To track analyst ratings and price targets for $CCI, check out Quiver Quantitative's $CCI forecast page.
$CCI Price Targets
Multiple analysts have issued price targets for $CCI recently. We have seen 4 analysts offer price targets for $CCI in the last 6 months, with a median target of $112.5.
Here are some recent targets:
- An analyst from Wells Fargo set a target price of $105.0 on 03/17/2025
- Jonathan Petersen from Jefferies set a target price of $84.0 on 01/01/2025
- Brett Feldman from Goldman Sachs set a target price of $120.0 on 10/21/2024
- Michael Rollins from Citigroup set a target price of $128.0 on 10/17/2024
Full Release
Daniel Schlanger, Current Executive Vice President and CFO, Appointed Interim President and CEO
Search Underway to Identify Successor CEO
Reaffirms All Recently Announced Financial Guidance and Capital Allocation Policies
Highly Confident in Value-Maximizing Transformation into a Pure-Play US Tower Company
HOUSTON, March 24, 2025 (GLOBE NEWSWIRE) -- Crown Castle Inc. (NYSE: CCI) (“Company” or “Crown Castle”) today announced that the Company’s Board of Directors (Board) has appointed Dan Schlanger, Executive Vice President (EVP) and Chief Financial Officer (CFO), as interim Chief Executive Officer (CEO), effective immediately. Steven Moskowitz has been terminated as President and CEO. The Board has initiated a search for a successor President and CEO and is in the process of retaining a leading executive search firm to assist in the process.
P. Robert Bartolo, Chair of the Crown Castle board of directors, said, “The Board determined that now is the right time to make this leadership transition to successfully complete the previously announced sale of the Company’s small cells and fiber solutions businesses and transform the company into a pure-play U.S. tower business. Looking ahead, Crown Castle will be well positioned to provide focused exposure to what we believe is the best market for wireless infrastructure in the world, and we are confident that installing new CEO leadership will put the Company on the best path forward to maximize long-term shareholder value. The Board thanks Steven for his contributions to the Company.”
As previously announced, Mr. Schlanger will continue to serve as the Company’s CFO until April 1, 2025, at which time Sunit Patel will assume the role of EVP and CFO. Mr. Schlanger will serve as interim CEO until a successor CEO is identified and appointed, at which time the Board intends to appoint him as Chief Transformation Officer, in which he will be responsible for overseeing the completion of the Company’s sale of its small cells and fiber solutions businesses, which is expected to close in the first half of 2026.
Mr. Bartolo continued, “Dan will leverage his in-depth knowledge of Crown Castle’s operations and his professional experience to complete the fiber transaction and ensure a smooth transition. He has been instrumental in helping shape Crown Castle’s strategy and is well equipped to lead the Company while the Board conducts a search for a CEO successor.”
Mr. Moskowitz’s termination was not a result of any disagreement regarding Crown Castle’s policies or financial performance and was not made for cause or related to any ethical or compliance concern. Crown Castle reaffirms all recently announced financial guidance, capital allocation policies and details regarding the sale of the fiber segment to EQT and Zayo.
ABOUT CROWN CASTLE
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them. For more information on Crown Castle, please visit
www.crowncastle.com
.
Contacts:
Kris Hinson, VP Corp Finance & Treasurer
Crown Castle Inc.
713-570-3050
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
