News
James B. Bell
- January 24, 2024
The chief financial officer (CFO) of Crown Castle will not be leaving the company at the end of March, according to a recent announcement. The Houston-based operator of wireless communications towers revealed that Dan Schlanger will remain in his position as the board continues its search for a permanent chief executive.
Tony Melone, the interim chief executive of Crown Castle, stated, "The board and I, together with Dan, agreed it would be best for him to continue serving as Crown Castle's CFO." This decision comes after the company previously stated in an October securities filing that Schlanger would step down on March 31.
In a turn of events, former CEO Jay Brown announced his retirement just two months later, following pressure from activist investor Elliott Investment Management for a leadership change. Melone emphasized that Schlanger's continued presence will offer continuity during the board's search for a new CEO.
Additionally, Crown Castle has appointed Chief Commercial Officer Mike Kavanagh to the position of chief operating officer for the company's tower business. This role was previously held by Chris Levendos, who also served as the operations chief for Crown Castle's fiber business.
This development ensures stability within Crown Castle as it navigates leadership changes and plans for the future.
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