David Wajsgras to Become Intelsat CEO

MCLEAN, Va. (Intelsat PR) — Intelsat, operator of the world’s largest integrated satellite and terrestrial network, has tapped David Wajsgras, as its next chief executive officer (CEO). Effective April 4, Wajsgras succeeds Stephen Spengler, who announced his planned retirement in Oct. 2021.

Wajsgras has two decades of experience at the senior executive management level, providing operational, strategic and financial leadership in both the commercial and defense industries. He most recently served as president of the global, $7.5-billion, advanced-technology Intelligence, Information and Services (IIS) business at the former Raytheon Company, now part of Raytheon Technologies (NYSE: RTX). Before joining Raytheon as chief financial officer, Wajsgras was executive vice president and chief financial officer at Lear Corporation (NYSE: LEA) and held other key operations and leadership roles.

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Intelsat Announces Successful Emergence from Financial Restructuring Process

WASHINGTON (Intelsat PR) — Intelsat S.A. announced today that it has successfully completed and emerged from its financial restructuring process as a private company with a substantially strengthened capital structure to support its growth as the leader in satellite communications. This final milestone follows receipt of regulatory approvals, completion of certain corporate actions, and satisfaction of other customary conditions.

Intelsat’s now effective Plan of Reorganization, supported by all creditor groups and confirmed by the Bankruptcy Court on December 16, 2021, has reduced the Company’s debt by more than half, from approximately $16 billion to $7 billion.

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Thales Alenia Space to Build State-of-the-art Intelsat 41 and Intelsat 44 Comsats

Artistic views of Intelsat 41 and 44 satellites. (Credit: ©Thales Alenia Space/Briot)

CANNES, France January 12, 2022 (Thales Alenia Space PR) – Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), announced that it has signed a contract1  with Intelsat to deliver two Space Inspire software defined satellites, Intelsat 41 (IS-41) and Intelsat 44 (IS-44).

The contract enables the progression of Intelsat’s global software-defined satellite-based network, adding high speed dynamically-allocated connectivity across Africa, Europe, the Middle East and Asia for commercial and government mobility services and cellular backhaul.

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Intelsat Achieves Confirmation of Plan of Reorganization, Final Court Milestone in Financial Restructuring Process

  • Fully Consensual Plan Will Reduce Debt by More Than Half and Position Company for Long-Term Success
  • Early 2022 Emergence Expected as Company Builds World’s First Global 5G Satellite-Based, Software-Defined, Unified Network
  • Commitments Obtained for Nearly $8 Billion in Exit Financing

MCLEAN, Va., December 16, 2021 (Intelsat PR) – Intelsat S.A. (OTC: INTEQ) announced today that the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, has approved its Plan of Reorganization, marking the final Court milestone in the Company’s financial restructuring process. Intelsat is poised to emerge from the process in early 2022 upon receipt of regulatory approvals, completion of certain corporate actions, and satisfaction of other customary conditions.

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Intelsat Announces Planned Retirement of Stephen Spengler as Chief Executive Officer

McLEAN, Va. (Intelsat PR) – Intelsat S.A. (OTC: INTEQ), operator of the world’s largest and most advanced integrated satellite and terrestrial network, announced today that Chief Executive Officer Stephen Spengler has decided to retire as CEO upon the Company’s emergence from its financial restructuring process and the naming of a successor. Until that time, Spengler will continue as CEO and lead Intelsat through the final stages of this process, ensuring a smooth transition. 

“We are nearing the conclusion of our restructuring with enhanced financial strength and are ideally positioned to embark on an exciting new business strategy for the next generation of 5G network connectivity,” Spengler said. “This is the right moment to make my retirement plans clear so that work can begin on identifying a new leader for the long term.”

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