Crown Castle parts ways with second top boss in two years

March 24 (Reuters) - Wireless tower operator Crown Castle ( CCI ) said on Monday it has terminated CEO Steven Moskowitz, effective immediately.

Dan Schlanger, the company's current finance chief, has been named as the interim CEO, while the board has initiated a search to appoint Moskowitz's successor.

The executive shake-up comes close on the heels of Crown Castle's ( CCI ) $8.5 billion deal to sell fiber assets to EQT Active Core and Zayo, after activist investor Elliott Investment Management pushed the wireless tower company for changes.

The deal was the culmination of Elliott publicly mounting pressure on Crown Castle ( CCI ) for two years to rethink its corporate strategy, after alleging years of underperformance.

Crown Castle ( CCI ) said Moskowitz's termination was not due to any disagreements on its policies or financial performance.

The company did not immediately respond to Reuters' request for further comment. Asked whether the decision was related to pressure from Elliott, a person familiar with the matter said the board decision was unanimous.

In December 2023, the company announced a formal review of its fiber business and replaced two directors on its board with Elliott's Jason Genrich and former T-Mobile executive Sunit Patel, who will succeed Schlanger as the CFO.

The same month, Jay Brown stepped down from his role as CEO, after leading Crown Castle ( CCI ) for more than two decades. The move was seen as a major win for Elliott, which publicly sought a management shakeup.

Moskowitz joined the company in April 2024, after serving as the CEO of Mexico-based wireless infrastructure provider Centennial Towers for nine years.

He had also worked for rival American Tower for 11 years as executive vice president.

Crown Castle ( CCI ) said Moskowitz's termination was not due to any disagreements on its policies or financial performance.

Elliott owns a stake of about 0.7% in the company, as of December 31. The stake is valued at approximately $127.80 million, as of Crown Castle's ( CCI ) last closing price. (Reporting by Rishi Kant in Bengaluru; Editing by Shreya Biswas and Sonali Paul)