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HOUSTON - Crown Castle Inc. (NYSE: CCI), a leading communications infrastructure company with a market capitalization of $45.6 billion and a prominent position in the Specialized REITs industry, announced today that Dan Schlanger, the current Executive Vice President and Chief Financial Officer, has been appointed as the interim Chief Executive Officer. This leadership shift follows the termination of Steven Moskowitz as President and CEO. The company’s board is actively searching for a permanent CEO, with the assistance of a top executive search firm.
The board’s decision aligns with Crown Castle’s strategic pivot towards becoming a pure-play U.S. tower company, emphasizing the company’s confidence in the U.S. wireless infrastructure market. The company’s stock has shown strong momentum with a 19.2% return year-to-date, according to InvestingPro data, which offers comprehensive analysis and additional insights through its Pro Research Report covering over 1,400 US stocks. P. Robert Bartolo, Chair of the Crown Castle board, expressed belief in the market and the company’s direction, stating that new leadership will be key to maximizing long-term shareholder value.
Schlanger, who will continue his role as CFO until April 1, 2025, when Sunit Patel will take over, is set to facilitate the company’s transition until a new CEO is appointed. At that point, Schlanger is expected to become the Chief Transformation Officer, overseeing the sale of Crown Castle’s small cells and fiber solutions businesses, projected to close in the first half of 2026.
The board praised Schlanger’s deep understanding of the company’s operations and his capability to steer the company during this period of change. They also acknowledged Moskowitz’s contributions to Crown Castle, noting that his departure was unrelated to any disagreement, ethical, or compliance issues.
Crown Castle reaffirmed its recent financial guidance and capital allocation policies, along with the details of the sale of its fiber segment to EQT and Zayo. The company, which maintains an attractive 5.9% dividend yield and generates annual revenue of $6.6 billion, owns and operates over 40,000 cell towers and roughly 90,000 route miles of fiber, providing critical infrastructure for wireless services across major U.S. markets. For detailed financial metrics and expert analysis, investors can access the complete Crown Castle profile on InvestingPro.
This leadership transition and strategic refocus are based on a press release statement from Crown Castle Inc.
In other recent news, Crown Castle has announced the sale of its fiber and small cell business to Zayo Group Holdings and EQT Active Core Infrastructure Fund for $8.5 billion, a transaction expected to close in the first half of 2026. This move follows a strategic review and will result in Crown Castle focusing solely on its U.S. tower operations, which are known for high margins and long-term contracts. The company plans to use the sale proceeds to repay debt and initiate a $3 billion share buyback program. However, ratings agencies like Fitch, S&P Global Ratings, and Moody’s have expressed concerns about Crown Castle’s increased leverage targets, placing the company’s ratings on negative watch or adjusting their outlooks to negative. BofA Securities has also adjusted its price target for Crown Castle to $110, citing the company’s recent financial performance and strategic changes. Meanwhile, Wolfe Research upgraded Crown Castle’s stock from ’Underperform’ to ’Peer Perform,’ highlighting the simplification of financial analysis following the sale. Crown Castle has also announced a reduction in its annual dividends by approximately 32% starting in the second quarter of 2025. These developments reflect a significant transformation for Crown Castle as it transitions to a towers-only business model.
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