Luxembourg – SES announced that the company’s President and CEO Romain Bausch informed the Board of Directors that he plans to step down from his position at the next annual general meeting of shareholders in April 2014. In its meeting last week, the Board has appointed Karim Michel Sabbagh as the successor to Romain Bausch. Sabbagh will join the company on September 1 as CEO Designate and, following a transition period, will officially take up the position of President and CEO on April 3, 2014.
Romain Bausch has been President and CEO of SES since 1995. He was appointed in April this year to the Board of Directors of SES, where he will continue to serve as a non-executive Director.
René Steichen, Chairman of the Board of SES, stated, “Romain’s decision to retire as President and CEO will bring an end to an almost 20-year tenure during which the company grew from a European Direct-To-Home Satellite System with four satellites into a leading satellite industry player operating a global fleet of more than 50 satellites. Romain’s vision, leadership, exceptional institutional relationship-building and commitment to the company have enabled this outstanding achievement.”
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