Current Vice Chairman and Director Raymond Svider to Assume
Chairman's Role
PEMBROKE, Bermuda--(Business Wire)--
Intelsat, Ltd., the world's leading provider of fixed satellite
services, today announced that Raymond Svider, a Managing Partner of
BC Partners, Intelsat's majority shareholder, was elected to the
position of Chairman at a recent meeting of the Intelsat Board of
Directors. Mr. Svider will replace Mr. Joseph Wright, who recently
notified the company of his resignation as Chairman of the Board and
Director of Intelsat, Ltd., effective May 1, 2008.
David McGlade, Intelsat's Chief Executive Officer stated, "Joe
Wright has been a key figure in the success of the fixed satellite
services industry. From his days on the PanAmSat board, through his
distinguished service as PanAmSat's CEO, to the last two years as
Intelsat's Chairman, he has been a major force in the positive changes
that have shaped our sector. Joe's valuable insights as we combined
Intelsat and PanAmSat, particularly with respect to our government
business, allowed Intelsat to quickly obtain the benefits of our 'one
company' operating structure. We wish him every success in his future
endeavors."
Mr. Svider is expected to assume the Chairman role upon Mr.
Wright's vacating the post on May 1, 2008.
About Intelsat
Intelsat is the leading provider of fixed satellite services (FSS)
worldwide, delivering advanced transmission access for information and
entertainment to many of the world's leading media and network
companies, multinational corporations, Internet service providers and
governmental agencies. Intelsat also offers seamless service for
voice, data and video transmission unmatched in the industry. With the
globalization of content, broadband, telecom, HD and IPTV fueling
next-generation growth, the ever expanding universe of satellite
services are the cornerstones of today's Intelsat. Real-time, advanced
communications with people anywhere in the world is closer, by far.
Intelsat Safe Harbor Statement: Some of the statements in this
news release constitute "forward-looking statements" that do not
directly or exclusively relate to historical facts. The
forward-looking statements made in this release reflect Intelsat's
intentions, plans, expectations, assumptions and beliefs about future
events and are subject to risks, including known and unknown risks.
Detailed information about some of the known risks is included in
Intelsat's annual report on Form 10-K for the year ended December 31,
2007 and Intelsat's other periodic reports filed with the U.S.
Securities and Exchange Commission. Because actual results could
differ materially from Intelsat's intentions, plans, expectations,
assumptions and beliefs about the future, you are urged to view all
forward-looking statements contained in this news release with
caution. Intelsat does not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Intelsat, Ltd.
Dianne VanBeber, +1 202-944-7406
dianne.vanbeber@intelsat.com
Copyright Business Wire 2008
