SES President and CEO Romain Bausch will step down on Thursday, April 3.
The SES board has appointed Karim Michel Sabbagh as the successor to Romain Bausch. Mr Sabbagh has joined the company on September 1, 2013 as CEO Designate and, following a transition period, will officially take up the position of President and CEO on April 3, 2014.
The news of Bausch’s leaving was announced in June 2013.
Bausch has been president and CEO of SES since 1995. He was appointed in April 2013 to the Board of Directors of SES, where he will remain as a non-executive director.
Karim Michel Sabbagh, aged 49, has been a member of the Board of Directors of SES as well as of its Audit and Risk Committee since April 2011. Until recently he was a Senior Partner and served as global and regional practice leader for Communications, Media and Technology along with other leadership forums at Booz & Company which he joined in 1998.
“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,” said René Steichen, Chairman of the Board of SES.
“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. We are confident that, under Karim’s leadership, SES’ management and employees will continue to drive innovation and quality of service to support our customers and business partners and create shareholder value.”
