Crown Castle CEO Stepping Down; Firm Announces Succession Plan

01/29/2016

NAREIT Corporate Member Crown Castle International Corp. (NYSE: CCI) announced Jan. 27 that president and CEO Ben Moreland will step down on June 1. He will be replaced by Jay Brown, who is currently Crown Castle’s CFO.

“Crown Castle is well-positioned for the tremendous opportunities that lie ahead in the U.S. as the wireless carriers continue to enhance their networks for consumers,” Brown said.

Moreland, who has held his current position since July 2008, will remain at Crown Castle as executive vice-chairman. He joined Crown Castle in 1999 after 15 years with Chase Manhattan Bank.

(Contact: Sarah Borchersen-Keto at sborchersen-keto@nareit.com)

Get Nareit Developments blog posts delivered straight to your inbox.

You Might Also Like...

What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.