8-KLeadership ChangesRegulation FDExhibits & Filings

CROWN CASTLE INC. 8-K Report, Executive Changes (Mar 24, 2025)

Filed March 24, 2025For Securities:CCI

Summary

Crown Castle Inc. (CCI) has announced a significant executive transition following the departure of its President and CEO, Steven J. Moskowitz, effective March 23, 2025. In his place, Daniel K. Schlanger, previously Executive Vice President and Chief Financial Officer, has been appointed as Interim President and CEO. This change comes as the board initiates a search for a permanent successor. Mr. Schlanger will continue as CFO until April 1, 2025, when Sunit Patel is set to assume the role as previously announced. Mr. Schlanger's appointment as Interim CEO includes a new compensation package, featuring a monthly stipend, substantial Restricted Stock Units (RSUs) for 2025, promotion, and transformation incentives. Notably, a portion of his compensation is tied to performance metrics like Adjusted Funds from Operations per Share and Return on Invested Capital, with an additional component linked to the potential sale of the company's Fiber business. This transition and compensation adjustment are key points for investors to monitor as the company navigates leadership changes.

Key Highlights

  • 1Steven J. Moskowitz has stepped down as President and CEO, effective March 23, 2025.
  • 2Daniel K. Schlanger, EVP and CFO, has been appointed Interim President and CEO.
  • 3The Board of Directors is actively searching for a permanent successor to the CEO role.
  • 4Daniel K. Schlanger will continue as CFO until April 1, 2025, with Sunit Patel set to take over as EVP and CFO.
  • 5Mr. Schlanger receives a new compensation package including a monthly stipend and significant RSUs tied to performance and potential business transactions.
  • 6Mr. Moskowitz's departure qualifies for severance payments under his existing agreement.
  • 7The company issued a press release on March 24, 2025, detailing these executive changes.

Frequently Asked Questions

Steven J. Moskowitz has ceased to serve as President and CEO, effective March 23, 2025. Daniel K. Schlanger, formerly the Executive Vice President and Chief Financial Officer, has been appointed as the Interim President and CEO while the company searches for a permanent replacement.

Upon the appointment of a successor President and CEO, Mr. Schlanger is expected to transition to the role of Executive Vice President and Chief Transformation Officer.

Mr. Schlanger will continue to receive his current base salary and incentive plan eligibility. Additionally, he has been awarded a monthly stipend of $100,000 as Interim CEO, along with substantial Restricted Stock Units (RSUs) valued at $4,125,000 for 2025, $4,100,000 as promotion RSUs, and $1,000,000 in transformation RSUs tied to the potential sale of the Fiber business.

Daniel K. Schlanger will continue to serve as CFO until April 1, 2025. As previously announced, Sunit Patel will assume the role of EVP and CFO on April 1, 2025.