How Array Digital Infrastructure’s CEO change could reshape U.S. tower strategy under Anthony Carlson

Array Digital Infrastructure, Inc. (NYSE: AD) has announced the appointment of Anthony Carlson as its new President and Chief Executive Officer, effective November 16, 2025. The leadership change places Carlson at the helm of a company managing more than 4,400 wireless communication towers across the United States, at a time when the entire telecom infrastructure sector is transitioning from passive leasing to value-added 5G enablement. Carlson will also join the company’s board of directors.

This development follows the interim leadership of Doug Chambers, who has served as CEO since March 2024. Chambers will resign from the board once Carlson takes office, but will remain as a senior advisor through December 9, supporting a phased transition. The move is widely viewed as a strategic recalibration for Array Digital Infrastructure, Inc., especially given the evolving economics of telecom infrastructure ownership and rising competition in the 5G deployment and private wireless connectivity landscape.

Array Digital Infrastructure, Inc. is majority-owned by Telephone and Data Systems, Inc. (NYSE: TDS), which holds approximately 82 percent equity interest. The decision to elevate Carlson, an executive with strong experience in growth strategy and organizational transformation, reinforces the parent company’s intention to evolve Array from a traditional tower landlord into a more dynamic digital infrastructure platform.

Why was Anthony Carlson selected to lead Array Digital Infrastructure, Inc.?

Carlson’s profile reflects a broader shift in how infrastructure companies view executive leadership. His most recent role as Vice President of Organizational Transformation at TDS Telecom saw him drive operational agility, internal performance modernization, and cultural realignment across a telecom business that supports both consumer and enterprise customers. Before that, he served in several strategic roles at United States Cellular Corporation (NYSE: USM), another subsidiary of Telephone and Data Systems, Inc.

His responsibilities included marketing strategy, growth execution, and customer analytics. This background indicates a clear understanding of wireless carrier dynamics, tenant priorities, and the performance metrics that matter in monetizing tower infrastructure. Earlier in his career, Carlson worked at McKinsey & Company and Samsung Electronics, bringing a balance of consulting precision and technology market insight. He holds a bachelor’s degree from Harvard College and an MBA with distinction from Harvard Business School.

The emphasis on Carlson’s strategy and transformation capabilities appears to signal that Array Digital Infrastructure, Inc. is looking to redefine what success means for a mid-sized tower operator in the current market. Rather than focusing solely on geographic footprint or number of macro towers, the company could pursue opportunities tied to densification, edge computing, and next-generation connectivity.

How is Array Digital Infrastructure, Inc. repositioning itself in the U.S. telecom infrastructure market?

The telecom tower sector is no longer a simple story of scale. Operators such as American Tower Corporation (NYSE: AMT), Crown Castle Inc. (NYSE: CCI), and SBA Communications Corporation (NASDAQ: SBAC) have all begun layering edge data centers, fiber assets, and cloud service integrations onto their vertical infrastructure holdings. Carriers are increasingly demanding more than just space on towers—they want low-latency capabilities, hybrid deployment options, and shared risk in network buildouts.

Array Digital Infrastructure, Inc. currently owns over 4,400 towers but has not yet announced a comparable diversification roadmap. However, the timing and tone of Carlson’s appointment strongly suggest the company may be preparing to move in that direction. His organizational transformation background hints at potential streamlining of legacy operations, greater automation, and the digitization of infrastructure management to improve margins.

Given that Carlson also understands the carrier side of the business, he may be better positioned to anticipate future tenant needs in areas such as edge compute, indoor coverage, or private LTE/5G deployments. This is where much of the future leasing growth is expected to come from, especially in enterprise campuses, logistics hubs, and smart city zones.

How did the market respond to the leadership transition at Array Digital Infrastructure, Inc.?

Shares of Array Digital Infrastructure, Inc. were trading at approximately USD 46.36 around the time of the announcement, reflecting a modest 2.6 percent intraday decline. The dip was not considered abnormal for a leadership transition and did not trigger any unusual trading volume. Over the past year, the company’s stock has declined from a 52-week high of USD 79.17, indicating a broader market discounting of legacy tower models amid pricing pressures and macroeconomic headwinds.

Institutional coverage remains cautiously optimistic. RBC Capital recently initiated coverage with an “Outperform” rating and set a price target of USD 62, suggesting upside potential if operational improvements materialize. There have been no notable insider transactions or institutional selling signals in the immediate aftermath of the CEO announcement. Trading volumes remained stable, and the investor base appears to be maintaining a wait-and-watch posture as Carlson steps in.

This early sentiment reflects a growing appetite for transformation in the infrastructure space. Investors seem willing to support companies willing to modernize, provided leadership can articulate a credible strategic plan. Carlson’s first public commentary and any guidance issued during upcoming earnings calls will likely shape near-term sentiment and re-rating opportunities.

What sector-wide signals does this CEO appointment send?

Carlson’s arrival aligns with a broader shift in the tower infrastructure market where future growth depends less on macro buildout and more on monetization of existing sites. Wireless carriers have already covered most major population centers, meaning the next wave of revenue will come from site densification, new verticals such as private 5G, and layering in services such as edge data hosting.

Companies like American Tower Corporation have begun acquiring edge data center operators and forming partnerships with hyperscalers. Crown Castle Inc. has expanded into fiber infrastructure. Smaller or mid-cap players like Array Digital Infrastructure, Inc. now face a strategic fork: either continue as low-risk yield vehicles or pivot toward growth via service expansion and innovation.

The choice of a CEO with transformation experience—not merely an operator—signals Array Digital Infrastructure, Inc.’s intent to be more than a passive landlord. Carlson’s combination of McKinsey analytical rigor, Samsung’s global telecom exposure, and hands-on transformation execution at TDS Telecom positions him to navigate this pivotal industry moment.

Moreover, his younger executive profile may be attractive to institutional investors looking for fresh energy, especially in a sector long dominated by legacy operational leadership. His Harvard MBA pedigree and consulting background give him credibility with capital markets, while his telecom tenure provides operational grounding.

What should investors and analysts watch for next?

Several key signals will determine whether Carlson can unlock value at Array Digital Infrastructure, Inc. First, any update to the company’s capital allocation strategy will be closely scrutinized. Investors will be eager to understand whether Carlson intends to ramp up tower buildout, explore acquisitions in edge infrastructure, or partner with private 5G vendors.

Second, margin enhancement efforts will be under the microscope. Carlson’s background in organizational performance suggests he may focus on digitizing tower operations, reducing opex, and standardizing processes to improve lease yield per tower. These kinds of internal initiatives can significantly boost adjusted EBITDA even without expanding tower count.

Third, any signals of carrier contract diversification or new enterprise partnerships could drive re-rating potential. As carriers like AT&T Inc. and Verizon Communications Inc. reduce capex, tower companies must look to logistics, manufacturing, and energy clients to maintain growth.

Finally, Carlson’s first formal communication as CEO—likely during Array’s next quarterly earnings call—will offer insight into tone, vision, and priorities. The degree to which he lays out a structured roadmap will shape both market sentiment and analyst coverage in the months ahead.

What are the key takeaways from Anthony Carlson’s appointment as CEO of Array Digital Infrastructure, Inc.?

• Anthony Carlson has been appointed CEO and President of Array Digital Infrastructure, Inc. effective November 16, 2025.

• Carlson brings a background in transformation strategy, growth marketing, and telecom operations, having served at TDS Telecom, United States Cellular Corporation, McKinsey & Company, and Samsung Electronics.

• Doug Chambers, interim CEO since March 2024, will exit the board but remain as senior advisor through December 9, 2025.

• Carlson’s appointment signals a potential shift in strategy as the company looks to evolve beyond passive tower leasing into more value-added infrastructure services.

• Array Digital Infrastructure, Inc. owns more than 4,400 towers and is majority-owned (82 percent) by Telephone and Data Systems, Inc.

• Market response was mildly negative on the day of the announcement, but institutional sentiment appears stable, with RBC Capital rating the stock “Outperform” and targeting USD 62.

• Investors are watching for clarity on Carlson’s near-term roadmap, including operational changes, monetization strategies, and service-layer expansions.

• The leadership change reflects broader sectoral dynamics, where tower companies must now innovate or risk yield stagnation amid falling lease escalators and competitive saturation.