1st Oct 2009 09:00
Andrew Sukawaty agrees to extend term of office
1st October 2009: Inmarsat plc (LSE:ISAT), the leading provider of global mobile satellite communications services, today announces that Andrew Sukawaty has accepted a proposal from the Inmarsat plc Board of Directors to extend his role as Chairman and Chief Executive Officer until 30 September 2011 and then to move to the role of Chairman until at least 30 September 2012.
John Rennocks, Deputy Chairman said, "The Board is delighted Andy will continue to lead the business. We believe that with Andy's background and experience, he is uniquely placed to lead the business in the next exciting stage of developments in the industry."
In connection with today's announcement, there are no changes to Mr Sukawaty's terms of employment and the existing Long Term Incentive Plan from 2007 will remain in place with the term extended to coincide with the revised date of 30 September 2012. The Board will put in place deferred share bonus awards for each of the financial years ending 31 December 2010 and 2011, with details to be announced when the awards are made.
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