Intelsat Announces Acting Chief Financial Officer
Pembroke, Bermuda, 2 June 2008
Intelsat, Ltd., the world’s leading provider of fixed satellite services, today announced that it has accepted the resignation of its Chief Financial Officer, Jeffrey Freimark, to be effective June 5, 2008. Mr. Freimark is leaving to pursue other opportunities. Intelsat’s Chief Executive Officer, David McGlade, has been appointed Acting Chief Financial Officer, and will continue to serve as CEO. An external search for a permanent CFO has commenced.
Mr. McGlade stated, “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.”