LightSquared CEO Quits

RESTON, Va. -- LightSquared today announced that Sanjiv Ahuja has resigned his position as chief executive officer. He will continue to serve as chairman of the board. Doug Smith, currently chief network officer, and Marc Montagner, currently chief financial officer, will be named as interim co-chief operating officers, while the company completes the search for the new CEO. In addition, Philip A. Falcone, CEO and CIO of Harbinger Capital Partners, has been appointed to the company’s board of directors. The CEO search is expected to be completed in the near future.

“Sanjiv has shown great leadership in bringing the LightSquared vision to this point, including leveraging his experience in the telecom industry to sign dozens of critical partnerships across the country,” said Mr. Falcone. “As the company takes the next step forward, we continue to be excited about the prospects and look forward to working with new leadership to accomplish our goal of building and operating an innovative, competitive wireless network.”

LightSquared