October 27, 2021 – Intelsat SA has announced that its CEO, Stephen Spengler, will retire from the position after the satellite network operator emerges from its financial restructuring process. The company has tapped executive recruiters Egon Zehnder to lead the search process for a new chief executive. “We are nearing the conclusion of our restructuring with enhanced financial strength and are ideally positioned to embark on an exciting new business strategy for the next generation of 5G network connectivity,” Mr. Spengler said. “This is the right moment to make my retirement plans clear so that work can begin on identifying a new leader for the long term.”
In May 2020, Intelsat filed for voluntary Chapter 11 bankruptcy, stating it will undertake financial restructuring. The bankruptcy court overseeing Intelsat’s Chapter 11 proceedings has pushed back the confirmation for its reorganization plan to Dec. 2. 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.”
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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.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media