Intelsat Names New CFO
David Tolley will join Intelsat as its new Executive Vice President and CFO, effective June 3. He most recently served as the CFO of OneWeb and served on the operator’s executive committee.
Prior to OneWeb, Tolley served as a Senior Managing Director in the Private Equity Group at Blackstone, where he led satellite services strategy and investing and served on the private equity investment committee. During that period, while Chairman of the Board of Directors of NewSkies Satellites, he led the public-to-private acquisition, re-IPO and ultimate divestiture of NewSkies to SES S.A.
Tolley replaces Intelsat CFO Jacques Kerrest, who joined the company in 2016, but announced plans to retire earlier this year. Tolley will report to Intelsat CEO Stephen Spengler, and oversee Intelsat’s global finance organization. He will serve on Intelsat’s management committee and be based in the company’s U.S. headquarters in McLean, Va.
“I am excited to be joining Intelsat at a pivotal time, when global expectations for ubiquitous broadband connectivity are growing faster than ever,” Tolley said in a statement. “The company is uniquely positioned to capitalize on the opportunities ahead and play an integral role in the global 5G telecommunications ecosystem. It’s an exciting time for Intelsat and I look forward to supporting and advancing the company’s transformation.”