The board of Telenor Satellite Services AS (Telenor) appointed Morten Tengs as the company’s CEO effective Feb. 2, the company announced Jan. 12. Tengs replaces Tore Hilde who will leave the company at the end of January due to stated differences of opinion about Telenor’s operations.

Tengs joined Telenor Global Services AS in 1995 and has served company’s CEO since 1999.

In separate news, Telenor sold 21.9 million shares of Inmarsat PLC at 3.48 British pounds ($3.13) per share. The transaction will provide Telenor with proceeds of 75.1 million pounds ($132.3 million). The sale represents 4.8 percent of the share capital in Inmarsat, leaving Telenor with a 4.6 percent stake in Inmarsat.