BUZZ-Crown Castle falls after parting ways with second top boss in two years

Reuters2025-03-25

** Wireless tower operator Crown Castle's CCI.N shares fall 1.5% to $102.80 premarket

** Co said on Monday it has terminated CEO Steven Moskowitz, effective immediately; search to appoint successor is underway

** Dan Schlanger, co's current finance chief, named as interim CEO

** The executive shake-up comes on the heels of co's $8.5 bln deal to sell fiber assets to EQT Active Core and Zayo, after activist investor Elliott Investment Management pushed co for changes

** In Dec 2023, Jay Brown stepped down as CEO, in a move seen as a major win for Elliott

** Elliott owns a ~0.7% stake in co, as of December 31

** As of last close, CCI up ~15% YTD

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))

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