8-KLeadership Changes

CROWN CASTLE INC. 8-K Report, Executive Changes (Nov 21, 2016)

Filed November 21, 2016For Securities:CCI

Summary

This Form 8-K filing from Crown Castle International Corp. (CCI) on November 21, 2016, primarily announces a key executive transition. Patrick Slowey, Senior Vice President and Chief Commercial Officer, has announced his intention to retire effective January 1, 2017, after more than 16 years with the company. Mr. Slowey will remain in an advisory role until August 31, 2017, to ensure a smooth handover and will be eligible for benefits under the company's Extended Service Separation Program. The company has appointed Michael Kavanagh as the successor to Mr. Slowey, effective January 1, 2017. Mr. Kavanagh brings extensive experience in the telecommunications infrastructure sector, having previously served as President – Small Cell Sales at Crown Castle since 2010. His background includes co-founding NewPath Networks, which was acquired by Crown Castle, and executive roles at Metawave Communications and OpenCell Corporation. This leadership change is a significant event for the company's commercial strategy and operations.

Key Highlights

  • 1Patrick Slowey, Senior Vice President and Chief Commercial Officer, will retire on January 1, 2017.
  • 2Mr. Slowey will transition to an advisory role until August 31, 2017, to aid in the successor transition.
  • 3Mr. Slowey is eligible for benefits under Crown Castle's Extended Service Separation Program.
  • 4Michael Kavanagh will assume the role of Senior Vice President and Chief Commercial Officer on January 1, 2017.
  • 5Mr. Kavanagh has been with Crown Castle since 2010 as President – Small Cell Sales.
  • 6Mr. Kavanagh has a strong background in the wireless infrastructure industry, including founding NewPath Networks.
  • 7The filing is dated November 18, 2016, and reports events occurring on that date.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce the retirement of Patrick Slowey, Senior Vice President and Chief Commercial Officer, and the appointment of Michael Kavanagh as his successor.

Patrick Slowey's retirement is effective January 1, 2017. He will remain with Crown Castle in an advisory capacity until August 31, 2017, to assist with the transition of his successor and other matters.

Michael Kavanagh will replace Patrick Slowey as Senior Vice President and Chief Commercial Officer. Mr. Kavanagh has served as President – Small Cell Sales at Crown Castle since 2010 and has a strong background in the wireless infrastructure sector, including co-founding NewPath Networks.

The filing states that Mr. Slowey will be eligible to receive benefits under Crown Castle’s Extended Service Separation Program, as previously disclosed in prior 8-K filings. No specific financial figures related to his separation package are detailed in this particular report.