LightSquared CEO Sanjiv Ahuja resigned Tuesday, the company said. It...
LightSquared CEO Sanjiv Ahuja resigned Tuesday, the company said. It said Chief Network Officer Doug Smith and Chief Financial Officer Marc Montagner will be co-chief operating officers while LightSquared seeks a new CEO. Ahuja, who will continue as chairman of…
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LightSquared’s board, won’t be “taking a new position but focusing on his other business interests,” said a spokesman for Ahuja. LightSquared said it added Phil Falcone, CEO of Harbinger, LightSquared’s biggest investor, to the board. LightSquared is “committed to working with the appropriate entities to find a solution to the recent regulatory issues,” Falcone said in a news release. LightSquared “is also taking an aggressive approach to its finances to ensure that it has adequate financial runway while it works through these issues,” it said. The FCC recently said it would move to block LightSquared’s terrestrial service authorization.