8-K filed February 21, 2023, 6:59 PM ET ticker SBAC CIK 0001034054

leadership confidence high sentiment neutral materiality 0.65

SBA Communications CEO Jeff Stoops to retire Dec 31, 2023; CFO Brendan Cavanagh to succeed as President and CEO

SBA COMMUNICATIONS CORP

Jeff Stoops to retire as President and CEO effective Dec 31, 2023; will become non-executive Chairman.
Brendan Cavanagh, current EVP and CFO, appointed as President and CEO effective Jan 1, 2024; also to join Board.
Cavanagh has been with SBA for 25 years; as CFO, revenues grew 555% and enterprise value from $6B to $43B.
Company intends to appoint a new CFO later in 2023.
Stoops' tenure as CEO (since 2002) delivered 16% annualized TSR and 17% enterprise value growth.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Brendan Cavanagh

President and Chief Executive Officer

SBAC · SBA COMMUNICATIONS CORP

Effective: 2024-01-01
Filed: February 21, 2023, 6:59 PM ET

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.

Appointed

Brendan Cavanagh

Director

SBAC · SBA COMMUNICATIONS CORP

Effective: 2024-01-01
Filed: February 21, 2023, 6:59 PM ET

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.

Departed

Jeffrey Stoops

President and Chief Executive Officer

SBAC · SBA COMMUNICATIONS CORP

Effective: 2023-12-31
Successor: Brendan Cavanagh
Filed: February 21, 2023, 6:59 PM ET

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.

Appointed

Jeffrey Stoops

non-executive Chairman of the Board

SBAC · SBA COMMUNICATIONS CORP

Effective: 2023-12-31
Filed: February 21, 2023, 6:59 PM ET

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.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Brendan Cavanagh was appointed as President and Chief Executive Officer at SBA COMMUNICATIONS CORP.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

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.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brendan Cavanagh was appointed as Director at SBA COMMUNICATIONS CORP.

Action: appointed
Role: Director

Exact text from the filing

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.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey Stoops departed as President and Chief Executive Officer at SBA COMMUNICATIONS CORP.

Action: retire
Role: President and Chief Executive Officer

Exact text from the filing

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.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey Stoops was appointed as non-executive Chairman of the Board at SBA COMMUNICATIONS CORP.

Action: assume
Role: non-executive Chairman of the Board

Exact text from the filing

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.

View on SEC.gov

SBA COMMUNICATIONS CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-043490

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