Satellite technology company SES announced the resignation of CEO Karim Michel Sabbagh and CFO Padraig McCarthy.
The company did not reveal the reasons for the sudden departure of two executives from its decision making team. Karim Michel Sabbagh will step down from his role to spend time with his family and to pursue new interests.
SES said Karim steered the strategic positioning of SES in a fast-changing environment, built capabilities with the leadership team and restructured our business and organisation to allow for implementation of strategy.
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Steve Collar is currently CEO of SES Networks, while Andrew Browne, who was recently CFO of O3b Networks and CFO of SES between 2010 and 2013.
SES has also appointed Steve Collar as the next CEO and Andrew Browne as the next CFO.
SES Video CEO Ferdinand Kayser, chief strategy and development officer Christophe De Hauwer, chief technology officer Martin Halliwell, chief human resources officer Evie Roos, and chief legal officer John Purvis will continue to work with SES.
SES will be appointing a new for SES Networks in the place of Steve Collar.
Steve Collar, CEO Designate of SES, said, “Our focus will be on execution in the short term, continuing to roll out differentiated services to our customers, and staying focused on the long term delivery of our forward-looking strategy.”