Iridium Communications Inc. has announced changes to its executive team, effective January 1, 2025. Vincent O’Neill has been named as the new Chief Financial Officer, while Timothy Last has been appointed as the new Executive Vice President, Sales, and Marketing. O’Neill currently serves as the Senior Vice President, Finance and has been with the company since 2014. On the other hand, Last is currently the Senior Vice President, Sales, Product Management, and Customer Care and joined Iridium in 2012.
CEO Matt Desch expressed his confidence in the seamless leadership transition with the appointment of O’Neill and Last to the executive team. He credited the outgoing executives, Thomas J. Fitzpatrick and Bryan J. Hartin, for developing leaders with the experience and vision to successfully succeed them.
Fitzpatrick, who is retiring as the company’s Chief Financial Officer and Chief Administrative Officer, will continue to serve on the company’s board of directors. During his tenure, the company is expected to have returned approximately $1.0 billion to shareholders over the previous three years. Hartin, the outgoing Executive Vice President, Sales, and Marketing, oversaw the expansion of the commercial business, leading to service revenue growth of 126% and a substantial increase in subscribers.
Iridium Communications Inc. is the only mobile voice and data satellite communications network that spans the entire globe, and its common stock trades on the NASDAQ Global Select Market under the ticker symbol IRDM.
These changes mark a significant shift in the company's leadership, with the new executives bringing extensive experience and vision to their respective roles. As a result of these announcements, the company's shares have moved -2.1% on the market, and are now trading at a price of $26.99. Check out the company's full 8-K submission here.
