Crown Castle Inc. (CCI) shares jumped Monday after 澳洲幸运5官方开奖结果体彩网:activist investor Elliott Investment Management LP made another attempt to ꦿshake up the provider of wireless towers and fiber-optic cables.

Elliott wrote a letter to the board calling for “significant changes,” including bringing in a new executive and board leadership. The activist hedge fund, which indicated it had a $2 billion stake in the firm, explained that Crown Castle disregarded its 2020 demands for “enhanced 澳洲幸运5官方开奖结果体彩网:governance and fiber-strategy improvements.”

The investor argued that Cꦗrown Castle “suffers from a profound lack of oversight by the board, which has contributed to irresponsible stewardship and flawed financial policy.”

Along with upending top management, Elliott wants a strategic and operating review of Crown Castle’s fiber business, an optimized 澳洲幸运5官方开奖结果体彩网:incentive plan for executives, and improved corporate governance.

Elliott added that, while it “prefers to pursue a constructive engagement with the Company, as it attempted in 2020,” it is also prepared to take its case directly to 澳洲幸运5官方开奖结果体彩网:shareholders by proposing a majority sꦬlate of alternative directors at Crown Castle’s annual meeting in May 2024. 

Despite Monday’s 3.6% intraday gain, shares of Crown❀ Castle are down for the yearꦯ.