Following the collapse of the Globalstar-FiberLight merger longstanding CEO James Monroe leaves his post

by | Sep 6, 2018 | Finance, Seradata News

Globalstar, a major provider of global MSS products, announced on 4 September, that incumbent CEO and Executive Chairman of the Board James Monroe III – and majority owner through investment company Thermo Capital Partners LLC – will give up his role as CEO in order to focus on the position of Executive Chairman. Mr Monroe, who has held the CEO role for 14 years will be succeeded by David Kagan, who was previously the President and COO of the company.

Current corproate logo of Globalstar Inc.

 

This change at the top of Globalstar follows the termination, on 1 August, of a merger proposed by Mr Monroe between two of his majority owned assets; Globalstar and FiberLight. The merger faced opposition from Globalstar minority shareholders. While the merger may not have occurred, one of its main goals (better management and monetisation of the company’s satellite spectrum) is going to be achieved. To this end, oversight of the satellite spectrum has been transferred to the role of Executive Chairman, leaving the new CEO to just lead the Globalstar satellite services business.

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