- Push-out Score determined
- After around 12 years in the position
- Praise and thanks for Dugan
- Hamid Akhavan taking over
(exechange) — Englewood, Colorado, February 22, 2022 — This news came shortly after Presidents’ Day. Mike Dugan, chief executive of EchoStar, leaves. As announced by EchoStar Corp. in a news release and in a regulatory filing published on Tuesday, February 22, 2022, Michael T. (Mike) Dugan leaves his post as chief executive officer at the provider of satellite communication and Internet services, after around 12 years in the role, effective March 31, 2022.
Mike Dugan’s duties as CEO will be taken over by Hamid Akhavan, a former Chief Executive Officer at Unify, Inc.
The fact that Mike Dugan’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, EchoStar did not explicitly explain the reason for the move.
Precise information regarding Mike Dugan’s future plans was not immediately available.
“Retiring”
EchoStar said: “Akhavan will succeed Michael Dugan, who will be retiring as Chief Executive Officer and President effective March 31, 2022, after over 30 years of service to EchoStar and its predecessors.”
EchoStar further said: “Hamid Akhavan will join the Company as its Chief Executive Officer and President. Mr. Akhavan will commence employment with the Company on or around March 31, 2022. In connection with the foregoing, the Company also announced on February 22, 2022 that Michael Dugan would be stepping down as the Company’s Chief Executive Officer simultaneously with Mr. Akhavan’s commencing employment.”
Share price decline since February 2017
The announcement follows a decline in EchoStar Corp.’s share price of 40% since February 2017.
In the position of CEO since 2009
Mike Dugan became CEO of the Company in 2009.
Dugan will remain on the board of directors and will serve as a strategic advisor to the company.
Dugan has served as the Company’s Chief Executive Officer and President since November 2009.
Dugan has also served as a member of the Company’s Board of Directors since the Company’s formation in 2007.
Dugan is also currently a member of the Strategy Committee.
Dugan served as a senior advisor to EchoStar and the Company’s subsidiaries from January 1, 2008 until November 2009.
From May 2004 to December 2007, he was a director of DISH, and from 1990 to 2006, he served in several executive roles at DISH and its subsidiaries, including as President, Chief Operating Officer, Chief Technical Officer and Senior Advisor.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mike Dugan’s move on a scale of 0 to 10.
exechange reached out to EchoStar and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2022 ($).