Posted on: 13 February 2018
The Board of Directors of SES has appointed two new members to its senior leadership team, with Steve Collar as the new president and CEO, and Andrew Browne as CFO with effect from 5 April 2018.
Steve Collar, currently CEO of SES Networks is becoming CEO Designate with immediate effect. Andrew Browne, who was until recently CFO of O3b Networks and CFO of SES between 2010 and 2013, has been appointed as the next CFO of SES, becoming CFO Designate with immediate effect.
Over the coming weeks, they will work closely with Karim Michel Sabbagh, the current president and CEO, and Padraig McCarthy, the current CFO in order to ensure a smooth handover.
Karim Michel Sabbagh has decided to step down from his role as president and CEO with effect from the next Annual General Meeting (AGM) on 5 April in order to spend time with his family and to pursue new interests. Padraig McCarthy is to retire during 2018 and will step down from his current role of CFO at the AGM and will remain at the disposal of the company thereafter.
“We are extremely excited to welcome Steve and Andrew as our next CEO and CFO. They each have extensive experience with SES and the broader satellite industry, especially also as the architects of O3b, the fastest growing and most successful satellite start-up. We have confidence that, with our leadership team, our industry position, our solid balance sheet and our differentiated assets and capabilities, we are well positioned to deliver on our objectives,” said SES chairman Romain Bausch.
Bausch added: “Karim steered the strategic positioning of SES in a fast-changing environment, built world-class capabilities with the leadership team and restructured our business and organisation to allow for full implementation of our strategy. Padraig has made an enormous contribution to the success of SES since he joined in 1995, enabling SES to develop its strong financial profile and balance sheet and grow into its worldwide leading position. I wish Karim all the best for his future endeavours and Padraig for his well-deserved retirement.”