CCI - Leading Independent Proxy Advisory Firm ISS Recommends Shareholders Vote FOR All of Crown Castle's Director Nominees | Benzinga
HOUSTON, May 13, 2024 (GLOBE NEWSWIRE) -- Crown Castle Inc. (NYSE:CCI) ("Crown Castle" or the "Company") today announced that Institutional Shareholder Services (ISS), a leading independent proxy advisory firm, has recommended that shareholders vote on the WHITE proxy card or voting instruction form "FOR" ONLY all 12 of Crown Castle's highly qualified director nominees in connection with the Company's upcoming 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting") scheduled for May 22, 2024.
Crown Castle's definitive proxy statement and other materials regarding the Board of Directors' recommendations for the 2024 Annual Meeting can be found at www.VoteCrownCastle.com.
In reaching its conclusion, ISS noted in its report:
- "As there is no case for incremental change at this juncture following the recent turnover at the board, the hiring of the permanent CEO, and the formation of the fiber review committee, shareholders are recommended to vote FOR all management nominees."
- "As it relates to operational improvements, the company appears well-positioned to evaluate and execute its strategy under the leadership of the newly hired CEO and supervision of the reconstituted board."
- "The dissident has positioned this campaign as an offer to assist with changes that are already being implemented, such as the sale of the fiber business and operational improvements to the tower business. However, although 25 parties have signed NDAs to review the analysis of a potential sale prepared by Boots Capital, none of those parties appear to have reached out to CCI to express an interest."
- "Additionally, some of the litigation initiated by the dissident does not appear to signal a desire to help. The lawsuit to keep the new CEO off the board, in particular (to prevent the company from diluting the dissident's four-candidate slate), does not appear constructive, especially since the dissident has stated that it would settle for two board seats."
Crown Castle issued the following statement:
We are pleased that ISS supports our highly qualified Board nominees and recognizes the strategic actions our Board is taking to create a stronger and more valuable company. We are confident our Board has the right skills and expertise, alongside our new CEO Steven Moskowitz, to advance the strategic and operating review of our ...