Cellnex announced recently departed chair Bertrand Kan (pictured) and Peter Shore stepped-down as independent directors due to irreconcilable differences with other board members over management and succession plans.

Kan’s exit comes as a surprise as the company stated last week he would stay on as a director after he was replaced as non-executive chair by Anne Bouverot.

Cellnex stated Kan and Shore’s departures are effective immediately and are due to differences with the board in relation to “management, governance and succession process of the company”.

The pair commented a recent shift in Cellnex’s strategy had led it to become a “truly unique, focused European infrastructure business”, and wished the company the best for the future.

Kan and Shore held positions as independent directors since 2015, when Cellnex announced an IPO.

Reuters claimed the double exit is linked to pressure from investor TCI to shake up its management.

Cellnex is also rumoured to be in the process of hiring an adviser to tackle investor demands.

Outgoing CEO Tobias Martinez also referenced the company’s strategic shift in his resignation announcement, stating a “new chapter” demands new leadership.