Dankberg retakes helm at Viasat
June 30, 2022
By Chris Forrester
Mark Dankberg is reassuming overall supervision at California-based (and Nasdaq-quoted) Viasat. Dankberg has been executive chairman – and stepping aside from his CEO role – since November 2020. He co-founded the satellite operator in1986. Effective June 29 Dankberg is again chairman and CEO. The current president and CEO, Rick Baldridge, will become vice-chairman, a newly created position.
Viasat is in the process of acquiring London-based Inmarsat.
A Viasat statement says: “Baldridge will focus on the remaining steps to closing the Inmarsat acquisition, and the organisational integration planning and execution strategy to position the combined companies to achieve the financial and operational objectives underpinning the transaction – including cost, capital, and revenue synergies already identified. The organisation change follows Viasat’s recent overwhelming shareholder approval for the acquisition of Inmarsat. Baldridge will also continue to lead Viasat’s evaluations of strategic initiatives and certain ongoing organisational initiatives.”
Commenting on behalf of Viasat’s Board of Directors, Lead independent director, Sean Pak, stated: “Today’s moves allow us to optimise the contributions of Viasat’s foundational leaders in Mark and Rick, and reflect the Company’s commitment to a thoroughly planned and executed integration with Inmarsat that will position us to achieve the financial and operational results enabled by the transaction. Through their close and selfless partnership Mark and Rick have created and led an exceptional management team that is delivering outstanding growth in the satellite industry.”
The statement added: “A combination of technology and strategy leadership in a rapidly growing and dynamic market, plus integration of the best aspects of Viasat’s and Inmarsat’s executive, operational, and go-to-market skills will be required to achieve our objectives. Beyond Mark and Rick, we are confident in the broad management bench strength at the company as we capitalise on our compelling combination of spectrum, licences, space and ground assets, our existing talent, and the new talent brought by the Inmarsat transaction and distribution to build a global communications leader.”