LUXEMBOURG--(BUSINESS WIRE)--Oct. 12, 2016--
Intelsat S.A. (NYSE: I), operator of the world’s first Globalized
Network, powered by its leading satellite backbone, announced today that
Egon Durban and Simon Patterson will resign from its Board of Directors
(the “Board”) effective as of December 31, 2016. Mr. Durban, a Managing
Partner and Managing Director of Silver Lake Partners joined the Board
in February 2008 when Silver Lake, together with BC Partners purchased
the company from prior private equity investors. Mr. Patterson, a
Managing Director of Silver Lake Partners, was elected to the Board in
2012.
Upon the effective date of the resignations, the Board will have seven
directors, comprised of two representatives from BC Partners, the
Executive Chairman and the Chief Executive Officer of the company, and
three independent directors. Entities affiliated with Silver Lake have
been shareholders of Intelsat S.A. and its predecessor entities since
February 2008. Silver Lake affiliates hold approximately 12% of the
outstanding common shares of Intelsat S.A.
The Silver Lake directors said, “We remain committed to our investment
in Intelsat and while we are leaving the Board, we will continue to
support Intelsat’s management team as it advances its business.”
Intelsat S.A. Executive Chairman David McGlade commented, “On behalf of
the Board, we acknowledge the valuable guidance and technology insights
that Silver Lake, and Egon and Simon individually, have provided over
the past eight years, a period which included the investment in our next
generation Intelsat EpicNG satellite platform. We thank them
for their contributions, their Board service, and their continued
support as minority shareholders in Intelsat.”
About Intelsat
Intelsat S.A. (NYSE: I) operates the world’s first Globalized Network,
delivering high-quality, cost-effective video and broadband services
anywhere in the world. Intelsat’s Globalized Network combines the
world’s largest satellite backbone with terrestrial infrastructure,
managed services and an open, interoperable architecture to enable
customers to drive revenue and reach through a new generation of network
services. Thousands of organizations serving billions of people
worldwide rely on Intelsat to provide ubiquitous broadband connectivity,
multi-format video broadcasting, secure satellite communications and
seamless mobility services. The end result is an entirely new world, one
that allows us to envision the impossible, connect without boundaries
and transform the ways in which we live. For more information, visit www.intelsat.com.
Intelsat Safe Harbor Statement
Statements in this news release constitute “forward-looking statements”
that do not directly or exclusively relate to historical facts. When
used in this release, the words “may,” “will,” “might,” “should,”
“expect,” “plan,” “anticipate,” “project,” “believe,” “estimate,”
“predict,” “intend,” “potential,” “outlook,” and “continue,” and the
negative of these terms, and other similar expressions are intended to
identify forward-looking statements and information.
The forward-looking statements reflect Intelsat’s intentions, plans,
expectations, assumptions and beliefs about future events and are
subject to risks, uncertainties and other factors, many of which are
outside of Intelsat’s control. Important factors that could cause actual
results to differ materially from the expectations expressed or implied
in the forward-looking statements include known and unknown risks. Known
risks include, among others, market conditions and the risks described
in Intelsat’s annual report on Form 20-F for the year ended December 31,
2015, and its other filings 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 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161012005305/en/
Source: Intelsat
Intelsat
Dianne VanBeber
Vice President, Investor Relations
and Corporate Communications
+1-703-559-7406
dianne.vanbeber@intelsat.com