By Josh Beckerman
Crown Castle co-founder and former chief executive Ted Miller launched a proxy fight, saying the wireless-communications tower company “lacks leadership, expertise, vision and urgency.”
The Wall Street Journal reported last week that Miller planned to push for four board seats. The company said it is “confident in the actions the Company is taking to remain well positioned for long term success and shareholder value creation,” and discussed “significant strides” including a review of its fiber business and the recent addition of the three new independent directors.
Crown Castle said it rejected the nominations of Miller and the three other nominees after “careful consideration.”
Miller said “Crown Castle must be rebooted after the shameful adventure into fiber” and criticized several facets of Crown Castle, saying it has “a broken company culture.” He also said the company’s cooperation agreement with Elliott Investment Management should be put to a shareholder vote.
Miller nominated himself, Chuck Green, his son-in-law Tripp Rice, and David Wheeler.
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