Oil prices hold sharp losses with focus on secondary India tariffs
LONDON - Eutelsat Group ( Euronext (EPA:ENX) Paris/London Stock Exchange:ETL) announced on Monday the appointment of Eric Labaye as Chairman of Eutelsat Communications (OTC:EUTLF) and Eutelsat SA, effective immediately.
Labaye succeeds Dominique D’Hinnin, who had previously announced his decision not to seek renewal of his mandate. The appointment was approved during a Board meeting held on August 4.
The Board also announced additional changes to its composition, including the resignation of Michel Combes and the co-optation of Lucia Sinapi-Thomas as an independent Board member. Guillemette Kreis has been appointed as the representative of the French State.
Following these changes, Eutelsat’s Board now consists of 10 members, including six independent directors, with 50% female representation.
Sunil Bharti Mittal, Vice-President and Co-Chair of the Board, thanked D’Hinnin for his "exemplary leadership" over the past eight years, particularly for overseeing the merger of Eutelsat and OneWeb.
Labaye brings extensive experience to the role, having worked for over 30 years with international clients in telecommunications, high-tech, and industrial sectors. He is the president and co-founder of IDEL Partners, an advisory firm, and previously served as Chairman and President of École Polytechnique from 2018 to 2023. Before that, he was a Senior Partner at McKinsey & Company.
"I’m honored and enthusiastic to join Eutelsat for a new chapter in its development," said Labaye in the press release. "Eutelsat has outstanding fundamentals and unique assets to succeed in the innovative and fast-changing satellite connectivity sector."
Labaye will hold office until the next Shareholders General Meeting, where his appointment will be proposed for a full term.
Eutelsat Group operates a combined fleet of 34 Geostationary satellites and a Low Earth Orbit constellation of more than 600 satellites, serving customers in video distribution and connectivity markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.