Tom Bartlett, the President, CEO, and Board Director of American Tower Corp. (NYSE: NYSE:AMT), is scheduled to retire on Feb. 1, 2024. Steve Vondran, presently serving as the Executive Vice President and President of the U.S. tower division, will be stepping into the role of interim global COO before assuming Bartlett's positions and board directorship.
Vondran's current responsibilities include managing the U.S. data center business. His transition into the interim global COO position will pave the way for Eugene (Bud) Noel to replace him. Noel is currently the Senior Vice President and General Counsel for the U.S. tower division, and his new role will commence on Nov. 1.
In other industry moves, Howard Hughes (NYSE:HHH) Holdings Inc. (NYSE: HHH) has appointed Elena Verbinskaya as their Chief Accounting Officer. Verbinskaya previously worked with IPSCO Tubulars Inc., a North American division of TMK Group.
Additionally, Anton Nikodemus has been appointed as the CEO of the newly formed Seaport Entertainment division under Howard Hughes Holdings Inc. Nikodemus brings a wealth of experience from his previous roles overseeing The Cosmopolitan of Las Vegas, Vdara Hotel & Spa, and ARIA Resort & Casino for MGM Resorts (NYSE:MGM) International's CityCenter. He also contributed to the creation of MGM National Harbor Hotel & Casino and MGM Springfield. The Seaport Entertainment division will manage Howard Hughes' entertainment assets in New York and Las Vegas.
InvestingPro Insights
As we delve into the financial health of American Tower Corp. (NYSE: AMT), InvestingPro data shows that the company has a substantial market cap of 86.53 billion USD, with an adjusted P/E ratio of 43.31 as of Q3 2023. This indicates that the company is trading at a high earnings multiple, which aligns with one of the InvestingPro Tips.
Another noteworthy point is the company's revenue growth, which has been recorded at 5.85% in the last twelve months as of Q3 2023. This suggests a slowdown in revenue growth, as pointed out in the InvestingPro Tips.
InvestingPro Tips also highlight that the company has maintained dividend payments for 13 consecutive years, which is supported by the data showing a dividend growth of 10.2% in the last twelve months as of Q3 2023.
InvestingPro offers additional insights and tips for investors, with a total of 11 more tips available for American Tower Corp. This comprehensive analysis can help investors make informed decisions and better understand the company's financial health.
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