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Print Edition StoriesThursday, March 5, 2009
American Tower taps Verizon exec Bartlett as CFO
By Mass High Tech Staff
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Wireless infrastructure company American Tower Corp. reports that it has picked Thomas Bartlett to join the Boston-based company as its new chief financial officer. Bartlett, who has also been named an executive vice president, will in addition oversee the company’s information technology organization once he starts on April 1, 2009.
Interim CFO Jean Bua, who has been serving in that role since June 30, 2008, will assume the new position of executive vice president, finance and treasurer at American Tower (NYSE: AMT).
Bartlett joins American Tower from Verizon Communications Inc., where he has been senior vice president and controller since November 2005. At Verizon, Bartlett previously held the roles of treasurer, as well as senior vice president of investor relations. Bartlett was the president and CEO of Bell Atlantic International Wireless from 1995 to 2000.
In March of 2008, American Tower entered into a $325 million incremental term-loan agreement to help repay an existing credit line. As a result of the deal, American Tower ended up with approximately $650 million outstanding under the credit facility and the capacity to borrow approximately $588.1 million toward new projects, executives said.
American Tower is one of the largest owners of broadcast and wireless communications towers in the country, with more than 22,800 sites in the United States, Mexico and Brazil. For fiscal 2008, the company reported a profit of $347.25 million on revenue of $1.59 billion.
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