Brown To Take Over as Crown Castle CEO June 1
Crown Castle plans to promote Chief Financial Officer Jay Brown to CEO, Crown announced during the company's Q4 financial results webcast Thursday. Brown will take over for Ben Moreland June 1. Moreland said he believes the tower industry is "in…
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the midst of a multiyear wireless investment cycle." Crown Castle increased its 2016 outlook for site rental revenue by $10 million, site rental gross margin by $7 million, adjusted EBITDA by $12 million, and adjusted funds from operations by $11 million, Brown said. The increased outlook reflects strong 2015 results and an anticipated 2016 leasing activity similar to 2015, the company's earnings statement said. Overall, Crown Castle took in $62 million more in site rental revenue in Q4 2015 than in Q4 2014, it said.