Luxembourg, June 17, 2013 SES (NYSE Euronext Paris and Luxembourg Stock Exchange: SESG) announced today that the companys President and CEO Romain Bausch informed the Board of Directors that he plans to step down from his position at the next annual general meeting of shareholders in April 2014. In its meeting last week, 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.Karim Michel Sabbagh, aged 49, has been a member of the Board of Directors of SES as well as of its Audit and Risk Committee since April 2011. Until recently he was a Senior Partner and served as global and regional practice leader for Communications, Media and Technology along with other leadership forums at Booz & Company which he joined in 1998. Mr Sabbagh was based in Dubai over the past 15 years. He is widely recognised for his vast expertise in the industry and for his focus on the emerging markets.
At Board and Chief Executive levels, Mr. Sabbagh has shaped and served the strategic agenda of global players in the communications, media and satellite sectors. He has led multinational teams in long-term, large-scale privatisations, international expansion, mergers and acquisitions, growth acceleration and strategy-based transformation programmes. He was also directly responsible for the structuring of global companies and played an essential role in building their capabilities over multi-year programmes.
Romain Bausch, who will turn 60 in July 2013, has been President and CEO of SES since 1995. Before joining the company, Mr Bausch had a distinguished career in the Luxembourg Ministry of Finance and occupied key positions in the banking, media and communications sectors. He was appointed in April this year to the Board of Directors of SES, where he will continue to serve as a non-executive Director.
Ren Steichen, Chairman of the Board of SES, stated: Romains decision to retire as President and CEO will bring an end to an almost 20-year tenure during which the company grew from a European Direct-To-Home Satellite System with 4 satellites into a leading satellite industry player operating a global fleet of more than 50 satellites. Romains vision, leadership, exceptional institutional relationship-building and commitment to the company have enabled this outstanding achievement.
By appointing Karim Michel Sabbagh, the Board has ensured a strong succession and a flawless transition. Karims vast knowledge of our industry, his experience in the emerging markets as well as his management skills will further enable the companys growth potential. We are confident that, under Karims leadership, SES management and employees will continue to drive innovation and quality of service to support our customers and business partners and create shareholder value.
About Karim Michel Sabbagh
Born September 26, 1963, 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. He led the firms largest multi-national accounts cross-regionally, and was directly responsible for the business and institutional building. Among other things, he led the development of the firms media buying unit that was directly responsible for the planning and buying of advertising across all media channels, and which became an industry standard for all leading advertisers.
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. He is a visiting professor in innovation and technology management and member of the Academic Council for the School of International Management at coles des Ponts ParisTech (Grandes Ecoles) in France.
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 is a Canadian and Lebanese national who is married and has two sons.
About Romain Bausch
Born July 3, 1953, 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 Financi re La Luxembourgeoise. He graduated with a masters degree in economics (specialisation in business administration) from the University of Nancy. He holds an honorary doctorate from the Sacred Heart University in Luxembourg.
Mr Bausch was appointed to the SES Board of Directors on April 4, 2013. He is a Luxembourg national who is married and has two daughters.
About SES
SES is a world-leading satellite operator with a fleet of 53 geostationary satellites. The company provides satellite communications services to broadcas
