Activist investor Elliott says Crown Castle CEO exit step in ‘right direction’

Activist investor Elliott Investment Management said on Friday that the exit of Crown Castle CEO Jay Brown, who will be leaving in January, was a step in the "right direction" but more changes were needed at the wireless tower owner. Brown led the company for more than two decades, and his departure is a major win for Elliot, which sought a management shakeup for what it said was years of underperformance. The activist investor said it wants a comprehensive review of Crown's Fiber business and a transparent search process for the next CEO.