Luxembourg - SES S.A., a satellite owner and operator, announced that the company's president and CEO Romain Bausch informed the board of directors that he plans to step down from his position in April 2014.
Article continues below
Mr. Bausch has been President and Chief Executive Officer of SES since 1995, following a career in the Luxembourg civil service (Ministry of Finance).
Before joining SES as its chief executive, Mr. Bausch occupied key positions in the banking, media and communications sectors and spent a five-year term as a Director and Vice Chairman of SES.
Mr. Bausch is also Chairman of the Board of SES ASTRA, Vice Chairman of the Board of Directors of O3b Networks, and member of the Board of Solaris Mobile Ltd.
Mr. Bausch also serves as a Director of Fedil – Business Federation Luxembourg and is a member of the Boards of Directors of Aperam, BIP Investment Partners and Compagnie Financiere La Luxembourgeoise.
He graduated with a master's degree in economics (specialisation in business administration) from the University of Nancy.
He holds an honorary doctorate from the Sacred Heart University in Luxembourg.
He was appointed to the SES Board of Directors on April 4, 2013.
The Board has appointed Karim Michel Sabbagh as the successor to Romain Bausch.
Mr. Sabbagh will join the company on September 1st as CEO Designate and, following a transition period, will officially take up the position of President and CEO on April 3, 2014.
Mr. Sabbagh was a Senior Partner with Booz & Company, and served until recently as global and regional practice leader for Communications, Media and Technology along with other leadership forums at the firm which he joined in 1998.
Mr. Sabbagh was based in Dubai over the past 15 years.
He is recognised for his vast expertise in the industry and for his focus on the emerging markets.
Prior to joining Booz & Company, Mr. Sabbagh served as the Regional Director of Operations & Strategy with Leo Burnett in the Middle East with direct market responsibility covering North Africa, the Middle East and part of Asia.
Mr. Sabbagh became a non-executive director of the Board of SES and a member of its Audit and Risk Committee on April 7, 2011.
He holds a BBA with Distinction from the American University of Beirut, an MBA from the American University of Beirut, and a PhD with Honors in strategic management from the American Century University in New Mexico. ■