- Signs for push-out forces
- After about a year on the job
- Laud, praise and thanks for Kagan
- Search for a successor
(management-change.com) — Covington, Louisiana, January 23, 2017 — David Kagan, operating chief of Globalstar, leaves. It is a change at short notice. As announced by Globalstar, Inc. in a news release and in a regulatory filing published on Monday, January 23, 2017, David Kagan, Chief Operating Officer, leaves the provider of mobile satellite voice and data services in a surprising move after about a year on the job, effective in March 2017.
No company wants a COO to flame out in the first years.
In many companies, the chief operating post is a steppingstone to the CEO suite.
Globalstar will undertake a search for a successor.
The imminent management change is explained as follows. Globalstar said: “David Kagan, the Company’s President and Chief Operating Officer, will be leaving the Company in March 2017 to accept an exciting new opportunity with SpeedCast.”
Globalstar said: “On January 19, 2017, David Kagan, President and Chief Operating Officer of Globalstar, Inc., notified the company that he would leave his position in March 2017.”
Kagan will be COO at SpeedCast
On January 24, 2017, SpeedCast announced the appointment of David Kagan to the position of Chief Operating Officer (COO) reporting to Chief Executive Officer Pierre-Jean Beylier. SpeedCast International Limited is a global satellite communications and network service provider.
Share price decline
The change follows a decline in the share price of Globalstar, Inc. since June 2014.
Chaired by Jay Monroe
Globalstar, Inc. is chaired by Jay Monroe.
Jay Monroe is Executive Chairman of the Board of Directors and the Chief Executive Officer of Globalstar, Inc.
On the job as COO since 2016
David Kagan was appointed President and COO of Globalstar in January 2016.
Prior to joining Globalstar he was President of ITC Global, a premier global VSAT satellite services provider from August 2014 through September 2015.
Kagan was also the President and CEO of Globe Wireless from June 2011 through January 2014 when it was sold to Inmarsat PLC.
Prior to Globe Wireless, for nearly twelve years, Kagan provided his leadership and expertise in his role as President and Chief Executive Officer of Maritime Telecommunications Network, a major satellite services provider to the cruise, yachting, and maritime markets.
His accomplishments include forming a joint venture with AT&T to enable mobile phone usage (voice, data, and texting) on the world’s cruise fleet as well as driving a successful turn-around of the company throughout his 12 years of leadership.
Previously, his extensive and uniquely applicable experience ranges from serving as Chief Financial Officer and Vice President of ICG Satellite Services to Vice President of Finance and Treasurer at Norwegian Cruise Line Ltd, where he led a $1 billion refinancing which resulted in repositioning the company for strong growth.
Kagan holds a Masters Degree of Business Administration from Florida Atlantic University.
He earned his BA in both Finance and Marketing at the University of South Florida, Tampa.
After his departure, Kagan will assume an advisory role with Globalstar and will continue to assist the management team and the Board with strategic and operational guidance.
Signs for push-out forces
It is not completely certain what forces eventually triggered David Kagan’s move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 05.2017 ($).