Intelsat, Ltd., the world’s leading provider of fixed satellite services, has appointed its Chief Executive Officer, David McGlade, as acting Chief Financial Officer.
The announcment follows the resignation of Jeffrey Freimark from the position of CFO, a move that was effective from June 5. He is leaving to pursue other opportunities.
Mr McGlade will also continue to serve as CEO while an external search for a permanent CFO is carried out.
In a statement, Mr McGlade said: “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.
“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.”
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