Intelsat, the satellite services provider headquartered in Luxembourg, announced on Monday that Michael McDonnell has stepped down as Chief Financial Officer, effective mid-December 2015.
It was reported that Mr. McDonnell has accepted the position of CFO at another public company, with the external search for his successor already underway.
"Mike successfully led a number of strategic initiatives during his tenure at Intelsat, including our Initial Public Offering in April 2013 and the major reorganisation of our capital structure in 2011," commented Intelsat CEO, Stephen Spengler. "We thank him for his contributions to Intelsat over the past seven years, and we wish him the best in his future endeavours."
The news arrived ten days before the company is due to report its financial results for the three months ended 30 September 2015.
Photo by Intelsat
