LightSquared Appoints New CEO as Company Works through Bankruptcy
Published on: 25th Aug 2012
Note -- this news article is more than a year old.
LightSquared, the USA network that tried to build a wholesale LTE network before being blocked has named a new CEO and Chairman.
The new CEO, Doug Smith was previously serving as co-chief operating officer for the company while it tries to emerge from Chapter 11 bankruptcy protection.
"LightSquared remains committed to working with all stakeholders to find an equitable resolution to the regulatory challenges that the company has faced this past year," Mr. Smith said.
Previously, Mr. Smith served as LightSquared's chief network officer and was responsible for LightSquared's network design, deployment and operations, helping to develop its technical characteristics. Prior to his service at LightSquared, he held a number of leadership positions at Clearwire and Sprint Nextel.
Regulators blocked the network from launching its services following concerns that it would interfere with GPS receivers. The company countered that the receivers were using its spectrum illegally and it had developed fixes for the receivers anyway.
However, the regulator ruled that the risk was too great and blocked the service.
LightSquared's previous CEO, Sanjiv Ahuja resigned from the company in February, while Philip Falcone, who backed the company to the tune of US$3 billion through Harbinger Capital Partners has been under pressure to resign his position on the board of directors.