In a letter to the Board, Elliott said the management overlooked its data-driven analysis and failed to implement the recommended changes. Moreover, the company's stock price recently reached a six-year low. "Crown Castle suffers from a profound lack of oversight by the Board, which has contributed to its irresponsible stewardship and flawed financial policy. This marks Elliott's latest effort to instigate changes at Crown Castle. In 2020, the activist investor urged a strategic review of the company's fiber business.

Source: Wall Street Journal November 27, 2023 11:49 UTC