David Wajsgras to Become Intelsat CEO

Rhea-AI Summary

Intelsat has appointed David Wajsgras as its new CEO, effective April 4. Wajsgras, who has extensive experience in the aerospace industry, succeeds Stephen Spengler, retiring after 18 years. Previously, Wajsgras was president of a $7.5 billion business at Raytheon Technologies (RTX) and CFO at Lear Corporation (LEA). The board highlights Wajsgras's leadership skills and believes he is well-suited to guide Intelsat during this pivotal time. The company aims to maintain its leading market position and further develop its global communications capabilities.

Positive

• David Wajsgras brings over 20 years of executive experience to Intelsat.
• Wajsgras has a strong background in both commercial and defense industries.
• The board is confident in Wajsgras's ability to lead the company during a critical period.

Negative

• None.

Aerospace industry executive to head leading satellite communications company

MCLEAN, Va.--(BUSINESS WIRE)-- 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.

David Wajsgras to be Intelsat's next CEO. (Photo: Business Wire)

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.

“Dave Wajsgras is a results-oriented leader with a great track record of performance throughout his career,” said Lisa Hammitt, chairperson of the Intelsat Board of Directors. “He develops talent and builds teams, thinks and acts strategically, and engages positively with customers and other stakeholders to the benefit of the business. Dave is just the right person to lead Intelsat at this important time.”

“Intelsat has a leading position in the market and a strong, global team of professionals,” said Wajsgras. “While the company has made history over nearly 60 years, it’s Intelsat’s future that excites me most. With a focus on customers and a commitment to delivering on our promises, we’re ready to write the next chapter in the story of communications and connectivity.”

Added Hammitt, “As we welcome Dave, we also will be saying goodbye to Steve Spengler. The members of the Board – and indeed the whole Intelsat team – owe great thanks to Steve for his tremendous contributions to the company for 18 years and his steady and accomplished leadership over the past seven. His retirement is well earned.”

About Intelsat

As the foundational architects of satellite technology, Intelsat operates the world’s most trusted satellite telecom network. We apply our unparalleled expertise and global scale to connect people, businesses and communities, no matter how difficult the challenge. Intelsat is building the future of global communications with the world’s first hybrid, multi-orbit, software-defined 5G network designed for simple, seamless, and secure coverage precisely when and where our customers most need it. Follow the leader in global connectivity and “Imagine Here,” with us, at Intelsat.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220307005708/en/

Media Contact:

Clay McConnell – clay.mcconnell@intelsat.com; +1 703 559 7236

Source: Intelsat

FAQ

Who is the new CEO of Intelsat?

David Wajsgras has been appointed as the new CEO of Intelsat, effective April 4.

What is David Wajsgras's previous experience?

Wajsgras previously served as president at Raytheon Technologies and CFO at Lear Corporation.

When did Stephen Spengler announce his retirement?

Stephen Spengler announced his retirement in October 2021.

What does Intelsat focus on in its operations?

Intelsat focuses on satellite communications and aims to enhance global connectivity.