Press release
SBA Communications Corporation Announces CEO Succession Plan
CFO Brendan Cavanagh to Succeed Jeff Stoops as President and CEO upon his Retirement BOCA RATON, Fla.--(BUSINESS WIRE)-- SBA Communications Corporation
About this update from Sba Communications Corporation
[{"type":"text","content":"\nCFO Brendan Cavanagh to Succeed Jeff Stoops as President and CEO upon his Retirement\n\n BOCA RATON, Fla.--(BUSINESS WIRE)--\nSBA Communications Corporation (NASDAQ: SBAC) (“SBA” or the “Company”), a leading global owner and operator of communications infrastructure, announced today that Jeff Stoops will retire from his positions as President and Chief Executive Officer on December 31, 2023. SBA’s Board of Directors has appointed Brendan Cavanagh, SBA’s Executive Vice President and Chief Financial Officer, to succeed Mr. Stoops as President and CEO, at which time Mr. Cavanagh shall also be appointed to the Company’s Board of Directors. Mr. Stoops shall remain on the Company’s Board of Directors, and upon his retirement shall assume the position of non-executive Chairman of the Board. Steven Bernstein, SBA’s founder and current Chairman of the Board of Directors, will continue to serve on the Board, and Jack Langer will continue in his role as lead independent director. The Company intends to appoint its next Chief Financial Officer later this year.\n\nBrendan Cavanagh joined SBA in February 1998 after spending several years as a CPA in the assurance practice of Arthur Andersen. During his 25-year career at SBA, he has served in a number of positions of increasing responsibility, including in Mergers & Acquisitions, as Vice President - Site Administration and as Chief Accounting Officer, prior to becoming the Company’s Chief Financial Officer in 2008. During Mr. Cavanagh’s tenure as CFO, SBA’s total revenues have grown by 555% and its enterprise value has expanded from $6 billion to $43 billion.\n\n”It has been a tremendous privilege to work side by side with Jeff from the very early days of the wireless infrastructure industry through a period of significant growth to the current state of SBA as a top-performing, multinational company. I am extremely thankful to Jeff for his guidance and support over the last quarter century,” said Brendan Cavanagh, the Company’s next President and CEO. “I am also very excited for the future of SBA. I see many opportunities to support our customers in their continuing efforts to expand the capabilities and depth of their wireless networks in order to meet the constantly growing demand for enhanced wireless services. SBA’s strong foundation and talented leadership team position us well to be a ...