Internationally owned mobile satellite communications provider Inmarsat is to be privatised on 15 April. The new company will be based in London and will initially be governed by a chief executive and 13 non-executive directors.
Inmarsat is owned by a co-operative of 86 member countries, and a letter inviting nominations to the new board is to be sent to all signatories. Three directors must come from "developing" countries.
The new Inmarsat will be made up of two entities: a two-tier private company - made up of Inmarsat Holdings and Inmarsat Ltd - that must seek an initial public offering within two years of its formation, and an intergovernmental body, the International Mobile Satellite Organisation, which will oversee delivery of public service obligations.
Source: Flight International