Cellnex Board Set to Meet as Billionaire Chris Hohn Takes Aim
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Cellnex Telecom SA’s board is set to meet for the first time since activist investor TCI Fund demanded that the chairman be sacked over the handling of a search for a new chief executive officer and questioned the company’s growth strategy.
The 11-member board, which is currently in the process of selecting a new CEO, may meet as early as Monday, according to two people familiar with the matter, who cannot be named because the discussions are private. The board already has a list with several candidates for the CEO position, including former chairman Marco Patuano, No front-runner has emerged and the board could still opt for an internal replacement, according to the people. Eight board members are required to approve naming a new CEO.