Bertrand Kanhe was removed from the presidency just days ago and was replaced by Anne Bouverot. Leonard Peter Beach followed suit by resigning with immediate effect. Independent directors tied to Cellnex also stepped down, citing irreconcilable differences with the board over how the company is led, where it is headed, and the process for choosing leadership in the future.
Following two years in the top job, Kan stepped back from his role as president but chose to remain on the board as an independent non-executive director. This week, however, he made the move to resign from the board entirely with immediate effect, alongside Peter Shore, as outlined in a formal letter Cellnex sent to the National Securities Market Commission. The messaging signals a broader shakeup at a moment when governance and succession are under intense scrutiny within the group.
The timing matters. A few weeks earlier, with Cellnex’s equity stake crossing the 9 percent threshold, Chris Hohn and his investment vehicle TC I pressed for a more decisive leadership change. The discontent from the largest shareholder extended beyond Kan to a broader demand that the chair and other directors depart, a move intended to speed up the appointment of a chief executive who could steer Cellnex toward its stated strategic goals and operational milestones. The board must now contend with the implications of these calls as it advances an orderly transition plan.
Among the requested departures were Peter Shore and Alexandra Reich, who holds director roles and was brought into the board under the influence and recommendations of the Government Investment Corporation, according to the investor’s wishes. Yet, TKİ reportedly sought even more changes, pressing for Kan’s removal from the board beyond his resignation as president. The tension highlights a broader conflict over governance controls and the succession framework at Cellnex as the company positions itself for the next phase of growth.
Bertrand Kan and Peter Shore had both been on Cellnex’s board since the company blossomed after its initial public offering in May 2015. Today, Cellnex presents itself as Europe’s leading operator of telecom towers and related infrastructure, a market niche it has cultivated through a series of acquisitions and a disciplined expansion strategy. The company remains focused on strengthening its network reach, improving service reliability, and delivering value to shareholders as it navigates the evolving European telecom landscape.