Freimark Departs Intelsat

Intelsat said it accepted the resignation of Chief Financial Officer Jeffrey Freimark. Freimark is leaving the company to pursue other opportunities, the company said.

CEO David McGlade was appointed acting chief financial officer, and will continue to serve as CEO. An external search for a permanent CFO has commenced, Intelsat said.

In a statement, McGlade praised Freimark's oversight of the PanAmSat acquisition financing and his involvement in the integration process, along with a focus on assuring company compliance with the Sarbanes-Oxley Act.

McGlade also emphasized that Intelsat's business is performing well. "Last month, Intelsat reported a strong quarter with record revenues and successfully launched the Galaxy 18 satellite. We remain focused on executing our proven business plan," he said.