Wright to Resign Intelsat Chairman Position

Satellite services company Intelsat announced that Joseph Wright will resign as chairman and board director on May 1.

Wright, who recently signaled to the board his intention to step down from the chairman position, will be replaced by Raymond Svider. Svider is a managing partner of BC Partners, Intelsat's majority shareholder.

Wright is well-known in satellite circles, serving as CEO of PanAmSat before the company was acquired by Intelsat in 2006.

"Joe Wright has been a key figure in the success of the fixed satellite services industry. From his days on the PanAmSat board, through his distinguished service as PanAmSat's CEO, to the last two years as Intelsat's chairman, he has been a major force in the positive changes that have shaped our sector," said Intelsat CEO David McGlade.