Intelsat Appoints Michael McDonnell as Chief Financial Officer
Experienced Satellite Industry Financial Executive to Join Intelsat
Pembroke, Bermuda, 9 October 2008
Intelsat, Ltd., the world’s leading provider of fixed satellite services, announced today that Michael McDonnell has been appointed Executive Vice President and Chief Financial Officer, with an expected effective date of November 17, 2008. In this position, McDonnell will be responsible for the overall management of Intelsat’s financial operations, including the accounting, treasury, financial planning and information technology functions.
Intelsat CEO David McGlade said, “With more than 22 years of experience and an impressive track record in leading large and complex financial organizations, Michael McDonnell is an ideal fit for Intelsat. In addition, his knowledge of the satellite sector is a valuable asset as we implement our growth strategies and further our industry leadership. We are delighted to welcome Mike to the Intelsat team.”
McDonnell joins Intelsat from MCG Capital Corporation, a publicly-held commercial finance company, where he served as Executive Vice President and Chief Operating Officer/Chief Financial Officer. Prior to joining MCG Capital in 2004, McDonnell served as the Chief Financial Officer of direct-to-home satellite television operator EchoStar Communications Corporation, now known as DISH Network Corporation. During his tenure at EchoStar, the company realized more than 100% revenue growth in a four-year period and closed nearly $7 billion of convertible debt, high-yield and equity transactions. Earlier in his career, McDonnell held several positions at PricewaterhouseCoopers, LLP, where he was admitted as a partner in 1996 and was responsible for audit and related services for technology clients.
McDonnell is a member of the board of directors of Catalyst Health Solutions, Inc., formerly known as HealthExtras, a publicly-held pharmacy benefits management company, serving as audit committee chairman and as a member of the compensation committee. He has a bachelor of science degree in accounting from Georgetown University and is a certified public accountant.