– USA, MA – American Tower Corporation (NYSE: AMT), today announced that Jim Taiclet will be transitioning from his roles as President, CEO and Executive Chairman of the Board. The Board of Directors has named Tom Bartlett to succeed Mr. Taiclet as President and CEO, effective immediately.
“We believe Tom is uniquely qualified to take the reins as CEO and drive the Company to even greater success in the communications real estate space in the U.S. and in our international markets, as well as in new, emerging areas of opportunity arising from the Company’s various innovation initiatives.” said Pamela Reeve, Lead Independent Director.
“On behalf of the American Tower Board of Directors, we thank Mr. Taiclet for his leadership and contributions over nearly two decades and for positioning the Company for continued success in the future. We will be working closely with Messrs. Taiclet, Bartlett and Smith during the next few months to ensure a smooth and seamless transition,” added Pamela Reeve.
Mr. Taiclet joined American Tower in 2001 as President and COO and became its CEO and Chairman in 2003, succeeding Company founder Steven Dodge. Mr. Taiclet will continue as Executive Chairman until the 2020 annual meeting, after which point, Pamela Reeve, the current lead independent director, will become the non-executive Chair of the Board, subject to her re-election as a director at the annual meeting.
Following his departure from American Tower, Mr. Taiclet, who currently serves on the Board of Lockheed Martin, will become its President and CEO, replacing Marillyn Hewson.
Rod Smith, the current Senior Vice President, Corporate Finance and Treasurer will become the new EVP, CFO and Treasurer. Mr. Smith has been with the Company for more than ten years, including serving as CFO of the Company’s U.S. Tower Division.
About Tom Bartlett
Mr. Bartlett has served as American Tower’s EVP and CFO for over ten years, joining the Company from Verizon Communications, Inc. in April 2009 after a career thereof for more than 25 years. During Mr. Bartlett’s tenure and leadership, American Tower’s total revenues have grown by 375% and its enterprise value has expanded to $128 billion from $16 billion. Total stockholder return during this period was approximately 800%.
Tom Bartlett, new President and CEO said, “It has been an incredible honor and privilege to work closely with Jim for more than ten years and I want to thank him for his tremendous leadership of our company. It’s an exciting time for American Tower. Not only are we well-positioned to capitalize on the continuing secular growth trends in mobile on a worldwide basis, but we also have a proven leadership team and dedicated employees throughout our markets to meet the needs of our diverse stakeholders. It’s an honor for me to lead a company that will play such an important role in the digital future.”
About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 180,000 communications sites.
For more information: https://www.americantower.com
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