VZ - Crown Castle Rejects Co-Founder Bid To Join Board Amid Talks Of A $15B Asset Sale | Benzinga
Crown Castle Inc. (NYSE: CCI) co-founder Ted Miller wants the telecommunications infrastructure company to fetch up to $15 billion by selling its fiber assets.
To expedite the sale process, Miller is proposing to join the Crown Castle board of directors. However, Crown Castle’s board turned him — as well as his list of nominees — down after the interview process.
Miller’s nominees "do not possess the relevant expertise and experience to successfully oversee Crown Castle’s strategy," they said in a Feb. 20 statement.
Miller, who co-founded Crown Castle in 1994 with Edward C. Hutcheson, Jr., requested that the company appoint him as executive chairman. His board nominees included Chuck Green, a former CFO of Crown Castle; David Wheeler, a former investment banker at Credit Suisse; and Tripp Rice, his son-in-law.
In December, Crown Castle announced its intention to explore ...