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OneWeb Emerges From Bankruptcy with New CEO

22 Nov 2020, 03:11 UTC
OneWeb Emerges From Bankruptcy with New CEO
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LONDON, 20 November 2020 (OneWeb PR) — OneWeb, the Low Earth Orbit (LEO) broadband satellite communications company, announces its emergence from U.S. Chapter 11 bankruptcy protection and achievement of all relevant regulatory approvals. A consortium of UK Government (through the UK Secretary of State for Business, Energy and Industrial Strategy) and Bharti Global, has invested $1bn of new equity to offer broadband connectivity services, via a constellation of 650 LEO satellites.

OneWeb will continue to be headquartered in the UK, bringing new R&D programmes, manufacturing opportunities and a global platform with priority spectrum usage rights. The company will ensure that the UK is at the forefront of a new commercial space industrial age, evolving technology and innovation, and will work with the UK commercial and academic space communities, along with other international specialists, in its research and development activities.

In connection with completion of the restructuring process, OneWeb is pleased to announce that Neil Masterson has been appointed CEO. Neil is formerly Co-Chief Operating Officer at Thomson Reuters having enjoyed a 20-year career with the global provider of news, information, and software.

He succeeds Adrian Steckel, who continues as an Adviser to the Board. Adrian joined OneWeb as CEO in ...

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