Satellite operators Eutelsat Communications (OTC:EUTLF) (EPA:ETL) and OneWeb have obtained all necessary regulatory approvals for their proposed merger, creating a leading global player in satellite connectivity, as announced on Monday. The companies have agreed on the proposed governance structure of the combined entity ahead of an Ordinary and Extraordinary General Meeting of Eutelsat shareholders set for 28 September 2023.
On Sunday, Eutelsat released all related documentation and information concerning this meeting, including the French Exemption Document. This document outlines the details and proposed governance structure of the combined entity.
The leadership team for the new company has been announced, with Eva Berneke, current CEO of Eutelsat, taking the helm of a 12-strong executive team. The team brings together senior leaders from both Eutelsat and OneWeb, with decades of experience in the satellite industry. The executive leadership team includes leaders from two business units - Connectivity and Video - along with three technical teams: Engineering, Operations, and IT. Key staff functions of the combined business are also represented.
The appointed executives include Chief Financial Officer Christophe Caudrelier; Co-General Managers for BU Connectivity Stephen Beynon and Cyril Dujardin; General Manager for BU Video Laurence Delpy; Chief Operations Officer Massimiliano Ladovaz; Chief Engineering Officer Arlen Kassighian; Chief Information Officer David Bath; Chief Strategy & Resources Officer Jean-Hubert Lenotte; Chief Human Resources Officer Anne Carron; Chief Communications Officer Vanessa Mahoney; and General Secretary David Bertolotti.
OneWeb CEO Neil Masterson will remain with the company until year-end to facilitate the successful integration of the companies. The formation of this executive leadership team remains contingent upon the completion of the merger following the vote at the upcoming Ordinary and Extraordinary General Meeting.
The immediate priorities of the new team will be to fully operationalize and commercialize Gen 1, complete the merger integration, and capitalize on the realization of previously outlined synergies.
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