In the history books of Crown Castle's glory days, a little company called Elliot Management Group made a website for the entire world to see called reclaimingthecrown.com. The website showed detailed strategy on how Crown could best return a profit (to them and other shareholders).
So is this current state of affairs the result of Elliot Managements plan to reclaim the crown?
https://www.prnewswire.com/news-releases/elliott-management-recommends-changes-at-crown-castle-301088355.html
or:
https://www.10xebitda.com/wp-content/uploads/2020/09/Elliott-Management-Crown-Castle-TMT-Elliott-Crown-Castle-Presentation-Jul-2020.pdf
Now mind you this was made public 3 years ago, at a much different time for the Fiber and Small Cell businesses. BUT if you look at thier "suggestions" you can see that Crown is basically doing what it's largest shareholder is telling it to do. Elliot Management owns about 12% of CCI through the Vanguard fund. Internally to CCI JB was overt in his disagreement with this position from Elliot, but here we are 3 years later and it looks like the CCI ELT and board is doing exactly what Elliot told them to do.
Does this justify the ELTs current decisions, are they just following orders? No. They FAILED to work with thier primary investors LONG before this was made public, and they FAILED so bad that one of the largest investment groups aired it's dirty laundry in a very public way. Had you or I failed in our job performance we'd have been terminated immediately.
I can't stomach watching good hard working people get screwed over by poor management. Crown Castle today is the result of very hard working people across all lines of business. There is unlimited potential in Crown Castle, but the current ELT is proving that they are incompetent, shallow, and undeserving of thier titles and pay.
I refuse to use the word Leader when it comes to the "ELT". Leaders put thier people first, they sacrifice for the good of the mission, and they force multiply thier efforts by building strong partnerships.
As a share holder of Crown I absolutely want CCI to succeed, but I have ZERO faith this ELT can right thier wrongs. Time for new leaders to come in and course correct this situation.