LightSquared has announced Doug Smith as its new chairman and CEO.
Smith was previously co-chief operating officer at the US satellite/terrestrial venture and also chief network officer, responsible for its network design, deployment and operations. He…
LightSquared has announced Doug Smith as its new chairman and CEO.
Smith was previously co-chief operating officer at the US satellite/terrestrial venture and also chief network officer, responsible for its network design, deployment and operations. He has also held leadership positions at Clearwire and Sprint Nextel.
He replaces Sanjiv Ahuja who stepped down in February.
Since February LightSquared has been run by co-chief operating officers Smith and Marc Montagner, who is also CFO.
Smith took the opportunity to reassure creditors. “LightSquared remains committed to working with all stakeholders to find an equitable resolution to the regulatory challenges that the company has faced this past year,” he said.
LightSquared filed for voluntary bankruptcy in May, and its hedge fund owners Harbinger attempted to leverage the company on the value of its spectrum.
The value of the spectrum is dependant on whether the Federal Communications Commission (FCC) allows it be used for 4G.
Harbinger is effectively using the bankruptcy process to buy time while it attempts to find a solution with the FCC.
“We are very confident that working together, we can provide the American public with both a protected and robust GPS system while enabling LightSquared to offer consumers and businesses more choice and a lower priced 4G wireless alternative they need and deserve,” Smith said.
