Reston, Va. – Two weeks after having its plans for a nationwide mobile broadband network rejected by the Federal Communications Commission (FCC), Reston, Va.-based LightSquared said on Tuesday that Sanjiv Ahuja has resigned his position as CEO.
He will continue to serve as chairman of the board of the Philip Falcone-backed company.
Doug Smith, currently LightSquared’s chief network officer, and Marc Montagner, currently chief financial officer, have been named as interim co-chief operating officers while the company looks for a new CEO.
The company spent nearly $4 billion on its nationwide mobile project, which initially had been approved by the FCC in 2005 and amended in 2010. But plans changed earlier this month when the National Telecommunications and Information Administration (NTIA) released a report that found the company’s technology would harm GPS signals.
This article was also published in Potomac Tech Wire.
Press release – http://tinyurl.com/7tjq7jn
The Hill – http://tinyurl.com/7jvr6kk
Photo of Sanjiv Ahuja courtesy of CTIA