Stephen Beynon, the British CEO of satellite tv for pc web supplier OneWeb, is about to resign just below a yr after the corporate merged with France’s Eutelsat.
His departure comes amid experiences of accelerating French dominance throughout the newly mixed group, with key selections shifting away from the UK.
OneWeb, which was based in 2012 by US tech entrepreneur Greg Wyler to ship world web protection through low earth orbit satellites, confronted vital challenges in 2020, submitting for chapter after dropping help from main investor SoftBank. The corporate was subsequently rescued by a $500 million funding from the UK authorities and an equal sum from Indian billionaire Sunil Bharti Mittal, who just lately turned BT’s largest shareholder.
Former Enterprise Issues columnist, Beynon was appointed CEO of OneWeb and co-president of Eutelsat’s connectivity division following the merger, which noticed Eutelsat purchase OneWeb in a deal framed as a partnership. Nonetheless, insiders counsel that the UK operations are more and more being absorbed by their French mum or dad, regardless of the British authorities retaining a ten.9% stake and a particular share supposed to guard UK pursuits.
Beynon’s co-president, Frenchman Cyril Dujardin, is anticipated to take full management of Eutelsat OneWeb after Beynon’s departure subsequent month. The seek for Beynon’s successor is presently underway, with the management transition elevating additional questions on the way forward for OneWeb’s UK operations.
Neither Beynon nor Eutelsat have offered any touch upon the resignation.
