Iridium CEO resigns post

Iridium CEO resigns post
Tom Foremski The financially troubled US satellite phone communications firm Iridium has lost its CEO just days before its first quarter earnings announcement. Iridium said that CEO Edward Staiano resigned because of disagreements with the board of directors over strategy. This is the second high level executive departure, with chief financial officer Roy Grant announcing his resignation last month. The company has had problems in rolling out its commercial services based on a global network of 66 satellites. This has led the company to default on certain financial agreements.


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