LightSquared, Philip Falcone’s 4G-LTE open wireless broadband network company, has named Marc Montagner as chief financial officer. The telecommunications veteran assumes the role previously held by Michael Montemarano, who left the company.
Montagner will report to Sanjiv Ahuja, LightSquared’s chairman and chief executive officer. The new executive’s experience in investor and bondholder relations will undoubtedly be useful as the company works to overcome challenges to its operations, which is opposed by military and commercial GPS specialists for causing interference.
Montagner previously was executive vice president, sales, marketing and strategy for SkyTerra, which formed the original foundation for LightSquared, and managing partner of mergers and acquisitions advisory firm Dupont Circle Partners. Before that he held senior executive positions with France Telecom, Morgan Stanley, Sprint Nextel and Banc of America Securities.
“Marc brings with him deep experience in financial and corporate development for the wireless communications sector, as well as extensive knowledge of LightSquared, and we’re thrilled that he will be joining our management team,” Ahuja said in a statement. “His proven track record will be tremendously helpful as we advance our plan to bring world-class wireless broadband service to 260 million Americans.”
LightSquared’s wireless broadband network uses the LTE standard and is designed to provide universal access across the United States, even to the currently underserved rural areas, in addition to helping meet the growing demand for broadband.
The company has an important long-term agreement with Sprint Nextel Corp. that depends on LightSquared getting Federal Communications Commission approval to operate before the end of January.
Press release – http://tinyurl.com/74uonmaPhoto by Flickr user deBurca/James Burke, used under Creative Commons license