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Posted 21 February, 2023

SBA COMMUNICATIONS CORP appointed Mr. Brendan Cavanagh as new CEO

Nasdaq:SBAC appointed new Chief Executive Officer Mr. Brendan Cavanagh in a 8-K filed on 21 February, 2023.


  On February 17, 2023, the Board approved the CEO succession plan, pursuant to which Mr. Brendan Cavanagh, currently the Company's Executive Vice President and Chief Financial Officer, will succeed Mr. Stoops as President and Chief Executive Officer, effective January 1, 2024.  

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Overview of SBA COMMUNICATIONS CORP
Real Estate/Construction • Specialty REITs
SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless. The International Site Leasing segment acquires and develops towers. The Site Development segment is involved in consulting and construction activities. The company was founded by Steven E. Bernstein in 1989 and is headquartered in Boca Raton, FL.
Market Cap
$23.5B
View Company Details
SBA COMMUNICATIONS CORP by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 

(b) and (c) 

On February 17, 2023, Mr. Jeffrey Stoops, President and Chief Executive Officer of SBA Communications Corporation (the "Company"), provided notice of his intent to retire from his position as President and Chief Executive Officer on December 31, 2023. Mr. Stoops shall remain on the Company's Board of Directors (the "Board") and, upon his retirement, shall assume the position of non-executive Chairman of the Board. 

On February 17, 2023, the Board approved the CEO succession plan, pursuant to which Mr. Brendan Cavanagh, currently the Company's Executive Vice President and Chief Financial Officer, will succeed Mr. Stoops as President and Chief Executive Officer, effective January 1, 2024. The Board expects to appoint Mr. Cavanagh to the Board concurrently with his assuming the position of President and Chief Executive Officer on January 1, 2024. The Company intends to appoint its next Chief Financial Officer later this year. 

Mr. Cavanagh, 51, joined the Company 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. 

There is no arrangement or understanding between Mr. Cavanagh and any other person pursuant to which Mr. Cavanagh has been appointed as President and Chief Executive Officer. There are no family relationships between Mr. Cavanagh and any of the Company's directors and executive officers, and Mr. Cavanagh is not a party to any transaction, or any proposed transaction, required to be disclosed pursuant to Item 404(a) of Regulation S-K. 

A copy of the press release announcing the retirement of Mr. Stoops and the appointment of Mr. Cavanagh is furnished with this report as Exhibit 99.1.