Intelsat Announces Resignation of Chairman Joseph Wright
Current Vice Chairman and Director Raymond Svider to Assume Chairman’s Role
Pembroke, Bermuda, 10 April 2008
Intelsat, Ltd., the world’s leading provider of fixed satellite services, today announced that Raymond Svider, a Managing Partner of BC Partners, Intelsat’s majority shareholder, was elected to the position of Chairman at a recent meeting of the Intelsat Board of Directors. Mr. Svider will replace Mr. Joseph Wright, who recently notified the company of his resignation as Chairman of the Board and Director of Intelsat, Ltd., effective 1 May 2008.
David McGlade, Intelsat’s Chief Executive Officer stated, “Joe Wright has been a key figure in the success of the fixed satellite services industry. From his days on the PanAmSat board, through his distinguished service as PanAmSat’s CEO, to the last two years as Intelsat’s Chairman, he has been a major force in the positive changes that have shaped our sector. Joe’s valuable insights as we combined Intelsat and PanAmSat, particularly with respect to our government business, allowed Intelsat to quickly obtain the benefits of our ‘one company’ operating structure. We wish him every success in his future endeavors.”
Mr. Svider is expected to assume the Chairman role upon Mr. Wright’s vacating the post on 1 May 2008.