SATS President and CEO to depart in December
The Board of Directors of SATS Ltd announced October 1 that Alex Hungate, the President & Chief Executive Officer and Executive Director, will be leaving the Company in December to take up a new role in a different industry.
Hungate joined SATS as an Independent Director on July 27, 2011, became an Executive Director on July 16, 2013 and then assumed his current role as President and Chief Executive Officer, on January 1, 2014.
“After eight purposeful years at the helm of SATS, I feel that now is the right time to hand over to new leadership,” said Hungate in an announcement from SATS. “Together, our dedicated and experienced team has ensured that the company is well-positioned for the future, as our growth initiatives gain traction and markets start to recover from the pandemic.”
SATS Chairman Euleen Goh added, “We thank Alex for his exemplary leadership over the years and, in particular, for steering the Company through this challenging crisis so effectively. We wish him well in his future endeavors. The Board has in place succession plans which will be activated to ensure a smooth leadership transition. Further announcements in this regard will follow shortly.”