Eutelsat Communications and OneWeb have received all relevant regulatory clearances for their proposed combination, and Eutelsat has convened an Extraordinary General Meeting of shareholders to be held on September 28, 2023. Last Friday, Eutelsat unveiled all documentation, including the French Exemption Document, providing details into the details and governance structure of the Combined Entity resulting from the merger.
Leadership Team Formation
The combination of Eutelsat and OneWeb is said to create a global player in satellite connectivity, with a combined fleet of satellites and global reach. Under the leadership of Eutelsat's CEO, the combined company will be led by a 12-member leadership team that brings together senior leaders from both Eutelsat and OneWeb.
According to the statement, the new team includes leaders of the Connectivity and Video business units, three technical teams (Engineering, Operations, and IT), as well as vital staff functions of the merged enterprise.
OneWeb and Eutelsat stated that the immediate priorities of the team will be to fully operationalize and commercialize OneWeb's Gen 1 constellation, complete the merger integration, and capitalize on the realization of the previously outlined synergies. OneWeb CEO will continue with the company until year-end to ensure a seamless integration process.
According to the statement, the proposed executive leadership team remains contingent on the completion of the merger, which will be subject to the vote of the Ordinary and Extraordinary General Meeting.
The combination of Eutelsat and OneWeb will create a new global leader in satellite connectivity.