SES (NYSE Euronext Paris and Luxembourg Stock Exchange: SESG) announced today that Padraig Mc Carthy has been appointed by the Board of Directors as Chief Financial Officer (CFO) and member of the company’s Executive Committee.
Padraig McCarthy is SES’ Chief Financial Officer (CFO) and member of the company’s Executive Committee
Andrew Browne, SES’ current CFO, has decided to relocate back to The Hague. He will leave his position in the company to become the Chief Financial Officer of O3b Networks, a venture that is deploying a next generation satellite network that combines the reach of satellites with the speed of fiber. With a 47 per cent shareholding, SES is a strategic investor in O3b Networks.
Padraig Mc Carthy’s appointment becomes effective after April 4, 2013, the day when the Annual General Meeting of Shareholders is asked to approve the company’s 2012 financial results.
Padraig Mc Carthy joined SES in 1995 from Norton S.A. (Group St. Gobain) where he was Financial Director Europe. His previous professional experiences also include positions with KPMG Chartered Accountants, Ireland. After having served as SES’s Controller, Padraig took the position of CFO of SES ASTRA, then the European subsidiary of global satellite operator SES (2002-2011).
Since the integration of SES ASTRA and SES World Skies into SES, Padraig has been Senior Vice President Financial Operations & Business Support at SES, reporting directly to the CFO. Padraig holds a Bachelor of commerce degree from the University of Cork, is a fellow of the Irish Institute of Chartered Accountants and followed advanced management executive programmes at Babson Business School and INSEAD.
“I have worked with Padraig over his 18 years with SES and I have seen him developing along the major steps of SES’ growth. Padraig is a skilled satellite finance executive whose business acumen has been beneficial to the company. I welcome Padraig to the Executive Committee and look forward to continue working with him to further grow our business in the interest of our customers as well as our shareholders” stated Romain Bausch, President and CEO of SES.
Padraig Mc Carthy, appointed CFO of SES, said: “It is an honor to assume the role of CFO of SES. I look forward to working with all my colleagues in SES and our external business partners in order to continue to create shareholder value and to deliver on the results that our stakeholders and the financial community can expect from a world-class satellite operator like SES.”
Commenting on Andrew Browne’s tenure at SES, Romain Bausch said: “I would like to thank Andrew for his significant contribution to SES over the last years. During his tenure, Andrew was instrumental to the creation of an integrated Finance Group when SES ASTRA and SES World Skies were folded into SES and contributed to the creation of shareholder value. We wish Andrew all the best in his new function and are convinced that Andrew joining O3b will help making this company a true game changer in the satellite and telecoms industry.”
Andrew Browne said: “It has been a most rewarding period of time working as CFO of SES on both a professional and personal level. During this time much has been accomplished by SES and I am very happy and proud of having been part of this and leave with SES in a very strong position going forward.”
