Intelsat Chairman Resigns; Succeeded By BC Partners Exec
Joseph Wright Departs Following $5 Billion Acquisition Of Fixed Satellite Service Provider
By Linda Moss -- Multichannel News, 4/10/2008 12:28:00 PM
The chairman of Intelsat, the world’s largest provider of fixed satellite services, has resigned, officials said Thursday.
Joseph Wright is leaving as Intelsat’s chairman effective May 1, and will be succeeded by Raymond Svider, a managing partner of BC Partners, Intelsat’s majority shareholder.
BC Partners won a bidding war to acquire Intelsat for $5 billion last year.
“Joe Wright has been a key figure in the success of the fixed satellite services industry,” Intelsat CEO David McGlade said. “From his days on the PanAmSat board, through his distinguished service as PanAmSat’s CEO, to the last two years as Intelsat’s chairman, he has been a major force in the positive changes that have shaped our sector.”
Intelsat is the leading provider of fixed satellite services worldwide, delivering advanced transmission access for information and entertainment to many of the world’s leading media and network companies, multinational corporations, Internet service providers and governmental agencies.
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