Some relevant quotes from the 8-K filed the evening of the 18th:
"MANAGEMENT CHANGES
Additionally, Crown Castle announced today that Mr. Schlanger, Executive Vice President and Chief Financial Officer, will depart the company effective
March 31, 2024. "Dan has been a valuable member of our executive leadership team and has made significant contributions over his seven years with the
company," said Mr. Brown. "Dan has been integral to our strategy and the growth of our business, built a strong finance organization, and improved our balance
sheet with long-dated maturities. I wish him well in his next endeavors." Crown Castle will begin a search for Mr. Schlanger's replacement. The search will
include both internal and external candidates."
"Restructuring Plan Update
• Crown Castle has undertaken a significant effort to simplify, streamline and centralize our business processes and operations to reduce our long-term costs and
improve our customers’ experience, the beginning of which was the restructuring plan we announced in July 2023. Annual run rate savings from that
restructuring plan are expected to be $105 million, comprised of $30 million of anticipated savings in 2023, $35 million of expected savings in 2024, and $40
million of expected savings included in the 2024 Outlook for services margin.
• In addition to the previously announced restructuring plan, Crown Castle plans to relocate approximately 1,000 employee positions from several locations
nationwide to a centralized location by the end of the third quarter 2024. Crown Castle intends to continue to maintain local offices across the United States to
support its customers' deployment activities. Additional long-term cost savings and related restructuring charges, which may be significant, are expected from
the expanded consolidation but not included in the full year 2024 Outlook. The additional anticipated cost savings and related restructuring charges will be
provided as they become available."