Intelsat chief financial officer Jeffrey Freimark has resigned and is leaving effective Thursday (June 5), the company said Monday.
Intelsat, the world’s largest provider of fixed satellite services, said that Freimark is leaving to pursue other opportunities. Intelsat’s CEO, David McGlade, has been appointed acting chief financial officer, and will continue to serve as CEO.
An external search for a permanent CFO has started, according to Intelsat.
“Jeff’s oversight of the PanAmSat acquisition financing and his involvement in the integration process, together with his focus on assuring our compliance with the Sarbanes-Oxley Act, were important factors in our corporate success over the past few years,” McGlade said in a prepared statement. “We thank him for his contributions to Intelsat, and we wish him the best in his future endeavors. Our business is performing well. Last month, Intelsat reported a strong quarter with record revenues and successfully launched the Galaxy 18 satellite. We remain focused on executing our proven business plan.”