CCI - LEADING PROXY ADVISORY FIRM GLASS LEWIS RECOMMENDS CROWN CASTLE SHAREHOLDERS VOTE FOR BOOTS CAPITAL NOMINEES TED B. MILLER AND CHARLES C. GREEN | Benzinga
Glass Lewis Concludes Boots Capital Presents a "Compelling Case" for Change
Recommends Shareholders Elect Ted. B. Miller and Charles C. Green to Replace Crown Castle's Long-Tenured Incumbent Directors Cindy Christy and Ari Fitzgerald
Boots Capital Urges Shareholders to Vote the GOLD Proxy Card "FOR" Boots Capital's Four Highly Qualified Director Nominees and "WITHHOLD" on ALL Crown Castle Nominees
HOUSTON, May 14, 2024 /PRNewswire/ -- Boots Capital Management, LLC ("Boots Capital"), an investment vehicle led by Ted B. Miller, co-founder and former Chief Executive Officer of Crown Castle Inc., (NYSE:CCI) ("Crown Castle" or the "Company"), today announced that Glass Lewis & Co. ("Glass Lewis"), a leading independent proxy advisory firm, has recommended that Crown Castle shareholders vote on Boots Capital's GOLD proxy card "FOR" the election of Boots Capital nominees Ted B. Miller and Charles C. Green, and "WITHOLD" from Crown Castle's nominees Cindy Christy and Ari Fitzgerald in connection with Crown Castle's Annual Meeting to be held on May 22, 2024.
In its report, Glass Lewis concluded that Boots Capital has "put forth a credible slate of nominees, as well as reasonable suggestions for the Company that we believe should earnestly warrant greater consideration by the Board" and there is "room for improvement at the Board level" at Crown Castle.
Ted Miller commented, "We are pleased that Glass Lewis agrees that new leadership is needed on the Crown Castle Board to add meaningful tower company operating experience and help restore value for all shareholders. Glass Lewis's recommendation for the election of two of our nominees supports our belief that Crown Castle's Board should be held accountable for years of value destruction, significant underperformance relative to its peers and poor decision making over the last decade.
"While Glass Lewis has recognized our nominees have the operational expertise, plan, tower industry experience, and leadership skills to restore value at Crown Castle, we continue to believe that the election of our four nominees is ideal to effect the changes that Glass Lewis agrees are needed at Crown Castle. Shareholders deserve a more capable Board with a detailed plan that will help restore credibility, leadership, and operational excellence to Crown Castle and create long-term value."
In making its recommendation "FOR" Boots Capital's nominees, Glass Lewis* noted the following:
- "We believe shareholders should support the election of Dissident Nominees Miller and Green, both of whom are former executives of the Company and appear to us to have extensive operational and execution experience in the tower industry… ...