Global satellite operator SES has announced that its president and chief executive Romain Bausch is to step down from his position at the next annual general shareholder meeting in April 2014.
The company’s board of directors has spent the past couple…
Global satellite operator SES has announced that its president and chief executive Romain Bausch is to step down from his position at the next annual general shareholder meeting in April 2014.
The company’s board of directors has spent the past couple of months indentifying a successor and on 13 June voted to appoint Karim Michel Sabbagh as Bausch’s replacement. Sabbagh will join SES on 1 September as CEO Designate and, following a transition period, will officially take up the position of president and CEO on 3 April 2014.
An expert on emerging markets, Sabbagh was until recently a senior partner and global and regional practice leader for communications, media and technology at Booz & Company, which he joined in 1998. He has been a member of the board of directors of SES as well as of its Audit and Risk Committee since April 2011.
Based in Dubai, Sabbagh’s role at Booz saw him lead multinational teams in long-term, large-scale privatisations, international expansion, mergers and acquisitions, growth acceleration and strategy-based transformation programmes.
Prior to joining Booz, Sabbagh served as the regional director of operations & strategy with Leo Burnett in the Middle East, with direct market responsibility covering North Africa, the Middle East and part of Asia.
Bausch, who will turn 60 in July 2013, has been president and CEO of SES since 1995. Before joining the company, Bausch worked in the Luxembourg Ministry of Finance and occupied key positions in the banking, media and communications sectors.
Bausch was appointed to the SES board in April this year and he will continue to serve as a non-executive director. He will also remain vice chairman of O3b Networks for the foreseeable future.
René Steichen, chairman of SES, stated: “Romain’s decision to retire as president and CEO will bring an end to an almost 20-year tenure during which the company grew from a European direct-to-home satellite system with 4 satellites into a leading satellite industry player operating a global fleet of more than 50 satellites. Romain’s vision, leadership, exceptional institutional relationship-building and commitment to the company have enabled this outstanding achievement.
“By appointing Karim Michel Sabbagh, the Board has ensured a strong succession and a flawless transition. Karim’s vast knowledge of our industry, his experience in the emerging markets as well as his management skills will further enable the company’s growth potential.”
