Egon Zehnder Recruits CEO for Intelsat 

April 19, 2022 – Egon Zehnder has assisted in the placement of former Raytheon executive David Wajsgras as the new CEO of Intelsat. He replaces Stephen Spengler, who will retire after the satellite network operator emerges from its financial restructuring process. “Dave Wajsgras is a results-oriented leader with a great track record of performance throughout his career,” said Lisa Hammitt, chairperson of the Intelsat board of directors. “He develops talent and builds teams, thinks and acts strategically, and engages positively with customers and other stakeholders to the benefit of the business. Dave is just the right person to lead Intelsat at this important time.”

Mr. Wajsgras enters the role with two decades of experience at the senior executive management level, having delivered operational, strategic, and financial leadership in both the commercial and defense industries. He most recently worked as a partner at private equity firm Pine Island Capital Partners. He also served as president of the Intelligence, Information and Services (IIS) business at the former Raytheon Co., now part of Raytheon Technologies, and was chief financial officer of Raytheon as well.

“Intelsat has a leading position in the market and a strong, global team of professionals,” said Mr. Wajsgras. “While the company has made history over nearly 60 years, it’s Intelsat’s future that excites me most. With a focus on customers and a commitment to delivering on our promises, we’re ready to write the next chapter in the story of communications and connectivity.”

“As we welcome Dave, we also will be saying goodbye to Steve Spengler,” said Ms. Hammitt. “The members of the board – and indeed the whole Intelsat team – owe great thanks to Steve for his tremendous contributions to the company for 18 years and his steady and accomplished leadership over the past seven. His retirement is well earned.”

As the foundational architects of satellite technology, Intelsat operates the world’s most trusted satellite telecom network. The company applies expertise and global scale to connect people, businesses, and communities. Intelsat offers the world’s first hybrid, multi-orbit, software-defined 5G network designed for “simple, seamless and secure coverage.”

Related: Egon Zehnder Retained by Thomas Jefferson University and Jefferson Health

Egon Zehnder retained its status as the No. 3 ranked global search firm, according to Hunt Scanlon Media this past spring. With more than 500 consultants in 68 offices and 40 countries around the globe, Egon Zehnder works with public and private corporations, family-owned enterprises, and non-profit and government agencies to provide board advisory services, CEO and leadership succession planning, executive search and assessment, and leadership development solutions.

Recent Search

Egon Zehnder recently placed Axel André as the new chief financial officer of American Equity Investment Life Holding Co. (AEL). “I am delighted to welcome Axel to be a part of our executive leadership team. I believe he brings the right combination of intellect, curiosity and proven leadership experiences, to serve as our next CFO as AEL transforms itself into a unique company at the intersection of the insurance and asset management value chain,” said Anant Bhalla, CEO and president of American Equity.

Prior to American Equity, Mr. André was executive vice president and CFO for Jackson National. Before that, he spent nearly seven years at AIG. Mr. André joined AIG initially as chief risk officer for individual retirement, group retirement and institutional markets. He was promoted to CFO of individual retirement at AIG, where he was responsible for overseeing all aspects of the finance and actuarial value chain for the individual retirement business, including asset-liability management, hedging, reporting, and capital management.

Related: Why Connecting Private Equity with Executive Search Matters More Now than Ever

Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media

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