Inmarsat takes on new CFO
Satellite communications company Inmarsat has appointed Rick Medlock as its new chief financial officer, with effect from the end of September.
Link: More business news
Current CFO and former Financial Director profilee Ramin Khadem will retire after 24 years with the company.
Andrew Sukawaty, Inmarsat chairman and CEO, said: ‘Ramin has been instrumental to Inmarsat’s development over many years and the board and shareholders, past and present, are appreciative of his work and contribution to the company.
‘I’m delighted that Ramin has agreed to remain involved in the business as a adviser.’
Medlock joins from Nasdaq and Euronext-listed NDS Group, where he has served as CFO and company secretary for eight years.
‘Rick Medlock will be joining the company at an exciting stage in its development’ said Sukawaty. ‘He has broad ranging experience in both the debt and equity markets as well as operationally in technology businesses. We welcome him to Inmarsat.’
Inmarsat was acquired at the turn of the year by private equity firms, Apax Partners and Permira, in a deal worth around $1.5bn ($825m).