Crown Castle Inc. said Ben Moreland, the company’s CFO, will become president and CEO of the tower company, effective July 1. John Kelly, Crown Castle’s president and CEO, will remain with the company as executive vice chairman of the board of directors. Kelly has been with Crown Castle since 1998 and spearheaded the company’s growth to its current No. 2 position in the United States with its acquisition of Global Signal in early 2007.
Kelly has led Crown since February 1999, replacing the company’s founder, Robert Crown.
With Moreland’s move to CEO, Jay Brown, VP and treasurer, will become CFO.
The company also reported first-quarter financials and increased its outlook for the year.
Crown Castle posted a net loss of $13.2 million for the first quarter, compared with a loss of $42.9 million in the same quarter one year ago. Site rental revenue for the quarter was up 15% to $345 million. Crown increased its site rental revenue expectations for the full year by $10.5 million.
Moreland to head Crown Castle
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