- Push-out Score determined
- After almost 35 years in the position
- Praise and thanks for Dankberg
- Rick Baldridge taking over
- Dankberg will remain as Executive Chairman at Viasat
- Dankberg spoke at length and said 145 words
(exechange) — Carlsbad, California, November 5, 2020 — Mark Dankberg, chief executive of Viasat, leaves his position. As announced by Viasat Inc. in a news release and in a regulatory filing published on Thursday, November 5, 2020, Mark Dankberg has left his post as chief executive officer of the communications company after almost 35 years in the role, effective November 3, 2020.
It is the end of an era.
Mark Dankberg’s duties as CEO will be taken over by Richard (Rick) Baldridge, most recently President and Chief Operating Officer of Viasat Inc.
“Initial step in the Company’s long-term succession plan”
Mark Dankberg’s departure from the CEO post is explained as follows. Viasat said: “This evolution formalizes the way Dankberg and Baldridge have been operating for the past several years. As Executive Chairman, Dankberg will continue to focus on advancing the strategic technology and business direction of the Company, as well as continue to influence the national and global space and broadband regulatory environments that are critical to Viasat’s global strategy. As President and CEO, Baldridge will continue his executive and operational leadership, with a focus on building and growing a customer-centric organization that will continue to deliver compelling global services and products. Baldridge will maintain his seat on the Viasat Board of Directors. This leadership evolution is an initial step in the Company’s long-term succession plan, creating a foundation for the development of future generations of executive leadership. This seamless transition comes at an important time in Viasat’s growth where the demands for innovation, leadership and operational execution are paramount in scaling the Company as it prepares for the impending launch of the ViaSat-3 global constellation. The new constellation will expand Viasat’s reach and capabilities into new geographies and emerging vertical markets, further broadening the Company’s broadband and technology leadership positions.”
Dankberg will remain as Executive Chairman at Viasat
“Viasat’s Chairman and Chief Executive Officer Mark Dankberg has become Executive Chairman of the Company, a new position. He is continuing in his role as Chairman of the Board of Directors of Viasat, Inc. The Company’s President and Chief Operating Officer, Rick Baldridge, has been named President and Chief Executive Officer. These executive changes went into effect on November 3, 2020,” Viasat said.
Share price decline since January 2020
The announcement follows a decline in Viasat Inc.’s share price of 56% since January 2020.
In the position of CEO since 1986
Mark Dankberg became CEO of the Company in 1986.
Mark Dankberg is a founder of Viasat and has served as Chairman of the Board and Chief Executive Officer since its inception in 1986.
Dankberg also has significant expertise and perspective as a member of the boards of directors of companies in various industries, including communications.
Dankberg currently serves on the board of Lytx, Inc., a privately-held company that provides fleet safety management solutions, and the Rice University Board of Trustees.
Prior to founding Viasat, he was Assistant Vice President of M/A-COM Linkabit, a manufacturer of satellite telecommunications equipment, from 1979 to 1986, and Communications Engineer for Rockwell International Corporation from 1977 to 1979.
Dankberg holds B.S.E.E. and M.E.E. degrees from Rice University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Viasat and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 45.2020 ($).