Viasat Announces Reorganization of Senior Executive Team

Rhea-AI Summary

Viasat (NASDAQ: VSAT) announced a significant reorganization of its senior executive team, effective January 22, 2025. Craig Miller, previously President of Global Space Networks, transitions to Senior Vice President of Strategic Initiatives, working directly with CEO Mark Dankberg. Girish Chandran, the current Chief Technology Officer, expands his role to become President of Global Space Networks.

Notable changes include the departure of Guru Gowrappan, current President, who will serve in an advisory role through April 2025. Gowrappan's exit follows his successful leadership of the Inmarsat acquisition integration. The company does not plan to replace the President position.

Viasat has reaffirmed its fiscal year 2025 financial guidance as previously announced on November 6, 2024.

Positive

• Successful completion of Inmarsat integration with accelerated synergies
• Reaffirmation of FY2025 financial guidance indicating stability

Negative

• Departure of company President Guru Gowrappan
• Elimination of President role in organizational structure

Insights

Financial Analyst

The executive reorganization at Viasat (NASDAQ: VSAT) marks a pivotal transition from integration-focused leadership to strategic growth execution. The successful completion of Inmarsat integration under Gowrappan's leadership, ahead of schedule, has likely accelerated cost synergies - a important factor for the satellite communications sector where operational efficiency drives profitability.

The decision to eliminate the President role while elevating technical leadership through Girish Chandran's expanded responsibilities signals a strategic pivot toward innovation-led growth. This aligns with industry trends where technical expertise is increasingly critical for competitive advantage in the rapidly evolving satellite communications market.

The reaffirmation of FY2025 guidance is particularly noteworthy as it suggests: 1) Integration synergies are meeting or exceeding targets 2) Leadership transition risks are well-managed 3) Core business momentum remains strong despite organizational changes. For investors, this stability amid transition reduces near-term execution risk.

Craig Miller's move to Strategic Initiatives, working directly with CEO Dankberg, indicates potential focus on new growth vectors. In the satellite industry, where technology cycles and market opportunities require long-term strategic positioning, this dedicated focus on strategic initiatives could be important for identifying and capturing emerging opportunities in areas like LEO constellations, 5G integration, or vertical market expansion.

From a governance perspective, the streamlined executive structure, with direct reporting lines to the CEO, should enable faster decision-making and more agile response to market opportunities - critical in the rapidly evolving satellite communications landscape where speed to market can determine competitive success.

Company Reaffirms Fiscal Year 2025 Financial Guidance

CARLSBAD, Calif., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, today announced a restructuring of its Senior Executive Team to better position the company for long-term growth.

Effective today, January 22, Craig Miller, currently President of Global Space Networks, will become Senior Vice President, Strategic Initiatives. In his new role, Miller will work closely with Mark Dankberg, Viasat’s Chairman of the Board and CEO, regarding strategic growth initiatives. Girish Chandran, currently Chief Technology Officer, will take on additional responsibilities as President of Global Space Networks. Girish brings over 25 years of experience in satellite systems and technology to lead our Global Space Networks organization.

Additionally, as part of the reorganization, Guru Gowrappan, currently President, will be leaving the company, after serving in an advisory role through April to ensure a smooth transition. Gowrappan’s mutually agreed upon departure comes on the heels of leading the successful integration phase of Viasat’s acquisition of Inmarsat. Moving forward, the company has no current plans to replace the role of President.

“We are appreciative of Guru’s leadership integrating Inmarsat and achieving accelerated synergies,” said Dankberg. “Guru built a great team, oversaw consolidation of operations, and we wish him continued success in his future endeavors.”

Gowrappan added, “Leading Viasat through the successful integration of Inmarsat and playing a key role in positioning the company for future growth has been an incredibly rewarding journey. As I transition to my next chapter, I take pride in what we have accomplished together and look forward to seeing Viasat continue to thrive and make a meaningful impact around the world.”

The company is reaffirming fiscal year 2025 financial guidance, as shared during the last quarterly earnings announcement on November 6, 2024.

About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. With offices in 24 countries around the world, our mission shapes how consumers, businesses, governments and militaries around the world communicate and connect. Viasat is developing the ultimate global communications network to power high-quality, reliable, secure, affordable, fast connections to positively impact people's lives anywhere they are—on the ground, in the air or at sea, while building a sustainable future in space. In May 2023, Viasat completed its acquisition of Inmarsat, combining the teams, technologies and resources of the two companies to create a new global communications partner. Learn more at www.viasat.com, the Viasat News Room or follow us on Facebook, Instagram, LinkedIn, X or YouTube.

Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements that refer to reaffirming the company’s fiscal year 2025 financial guidance and its positioning for future growth. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: our ability to realize the anticipated benefits of the ViaSat-3 class satellites and any future satellite we may construct or acquire; unexpected expenses related to our satellite projects; our ability to successfully implement our business plan for our broadband services on our anticipated timeline or at all; capacity constraints in our business in the lead-up to the launch of services on our ViaSat-3 satellites; risks associated with the construction, launch and operation of satellites, including the effect of any anomaly, operational failure or degradation in satellite performance; our ability to successfully develop, introduce and sell new technologies, products and services; changes in the global business environment and economic conditions; our reliance on a limited number of third parties to manufacture and supply our products; increased competition; and our level of indebtedness and ability to comply with applicable debt covenants. In addition, please refer to the risk factors contained in our SEC filings available at www.sec.gov, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update or revise any forward-looking statements for any reason.

CONTACTS:
Lisa Curran/Peter Lopez, Investor Relations, IR@viasat.com
Jonathan Sinnatt, External Communications, PR@viasat.com

FAQ

What major executive changes were announced at Viasat (VSAT) on January 22, 2025?

Viasat announced that Craig Miller became SVP of Strategic Initiatives, Girish Chandran expanded his role to President of Global Space Networks, and current President Guru Gowrappan will be leaving the company after serving in an advisory role through April 2025.

Will Viasat (VSAT) replace the President position after Guru Gowrappan's departure?

No, Viasat has announced it has no current plans to replace the role of President following Gowrappan's departure.

Has Viasat (VSAT) changed its financial guidance for fiscal year 2025?

No, Viasat reaffirmed its fiscal year 2025 financial guidance as previously shared during the November 6, 2024 quarterly earnings announcement.

What was Guru Gowrappan's main achievement at Viasat (VSAT) before his departure?

Gowrappan successfully led the integration phase of Viasat's acquisition of Inmarsat, achieving accelerated synergies and consolidating operations.