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  "documentTitle": "Crown Castle International Corp. (CCI)",
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  "authorName": "Elliott",
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  "presentationDate": "2020-07-06 00:00:00",
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  "notes": "Uses peer disclosure as a benchmark to highlight a governance/transparency gap at Crown Castle.",
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      "text": "Unlike its two better-performing peers, Crown Castle does not report its own ROIC metric to the investment community.",
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      "text": "Unlike its two better-performing peers, Crown Castle does not report its own ROIC metric to the investment community. This is highly unusual when considering Crown Castle's capital intensity and suggests that the Board and management team are not focused on this essential metric",
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      "text": "I'm compensated based upon AFFO per share growth and ROIC. And so, it's very simple. And so, everything that we do, every new dollar that we allocate within the business will be to drive those - those two metrics in a very high quality way.",
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      "text": "Some folks want to see that growth on the revenue line. I continue to submit to you that the ROIC that we can produce by doing what we're doing is better and the value created for our shareholders will be better.",
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      "text": "\"I'm compensated based upon AFFO per share growth and ROIC. And so, it's very simple. And so, everything that we do, every new dollar that we allocate within the business will be to drive those - those two metrics in a very high quality way.\" — CEO Tom Bartlett, American Tower, May 2020; \"Some folks want to see that growth on the revenue line. I continue to submit to you that the ROIC that we can produce by doing what we're doing is better and the value created for our shareholders will be better.\" — CFO Brendan Cavanagh, SBA, April 2018",
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      "text": "2. Optimized Incentive Plan",
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