ABS, one of the world’s leading satellite operators, has announced a major leadership change as the company navigates choppy waters. Mark Rigolle, a 25-year veteran of the satellite communications industry, has been appointed Chief Executive Officer effective immediately.
The move comes amid significant upheaval at ABS. Last month, the company underwent an unexpected bankruptcy after failing to restructure its debt load of over $600 million. The court-supervised reorganization resulted in a newly constituted board of directors who acted swiftly to overhaul the senior executive team.
Rigolle, 52, brings a wealth of relevant experience after previous stints as CFO of SES and CEO of LuxGovSat. He inherits an ABS that still operates a fleet of six geosynchronous communications satellites covering the Americas, Europe, Africa and Asia. However, the company faces an uphill battle to regain market confidence after a turbulent period.
In a statement, Rigolle said his top priorities are stabilizing operations, paying down debt, and reassuring customers about ABS’s future: “I aim to provide strong leadership and a strategic vision that will restore ABS as an innovative, reliable provider of global satellite solutions.”
Industry analysts view Rigolle as a seasoned operator who can help right the ship. Northern Sky Research partner Carolyn Belle commented, “Mark has consistently demonstrated financial and managerial acumen over an impressive career. If anyone can fix ABS’s problems, it’s him.”
ABS’s former CEO was among several top executives ousted in the shakeup. The company declined to comment further on the management changes.
