LightSquared announced on Tuesday that it has named Marc Montagner as Chief Financial Officer. Montagner replaces Michael Montemarano, who left the firm in November. Montagner specializes in mergers and acquisitions, having previously worked for Dupont Circle Partners and Sprint Nextel Corporation. LightSquared is looking to build its network on 1600MHz frequency spectrum and deploy a 4G LTE network that Sprint is planning to use in part to accelerate its own LTE roll-out. LightSquared’s network has yet gain approval from the Federal Communications Commission, however, which recently issued a report stating that the company’s network still interferes with GPS technology. LightSquared promptly replied to the new report and demanded approval, claiming that any interference with GPS devices is caused by GPS signals partially transmitting on LightSquared’s spectrum. Sprint recently granted LightSquared an additional 30 day to gain approval before its pending deal may be canceled. Read more for a full copy of the press release.
LightSquared Names Marc Montagner Chief Financial Officer
RESTON, Va., January 3, 2011 – LightSquared, a wholesale carrier building a nationwide wireless broadband network that will create consumer choice and drive industry innovation, today announced the appointment of telecommunications veteran Marc Montagner as chief financial officer.In this role, Montagner will report to Sanjiv Ahuja, LightSquared’s chairman and chief executive officer, and will be responsible for the company’s daily financial operations and will oversee investor and bondholder relations.
Montagner will also leverage his experience as executive vice president, sales, marketing and strategy for SkyTerra, LightSquared’s predecessor company, where he worked on the regulatory, technical and business issues associated with re-purposing SkyTerra’s satellite spectrum for terrestrial use. His nearly 25 years of experience also includes working for companies such as France Telecom, Morgan Stanley, Sprint Nextel and Banc of America Securities.
“Marc brings with him deep experience in financial and corporate development for the wireless communications sector, as well as extensive knowledge of LightSquared, and we’re thrilled that he will be joining our management team,” said Ahuja. “His proven track record will be tremendously helpful as we advance our plan to bring world-class wireless broadband service to 260 million Americans.”
Prior to joining LightSquared, in addition to his role at SkyTerra, Montagner was managing partner of Dupont Circle Partners, a mergers and acquisitions advisory firm specializing in the media, technology and telecommunications industries. Previously, he was managing director and co-head of the Global Telecom, Media and Technology Merger and Acquisition Group of Banc of America Securities where he advised a number of companies during acquisitions.
Montagner was also senior vice president, corporate development and mergers and acquisitions for Sprint Nextel Corporation, where he was responsible for all M&A activities for the company, including the $70 billion merger between Sprint and Nextel. Prior to Sprint Nextel, Montagner was a managing director in the Telecom and Media Group at Morgan Stanley. Montagner started his career in the telecom industry at France Telecom.
“I’m looking forward to harnessing my experience in finance and corporate development as LightSquared aims to revolutionize the wireless landscape,” said Montagner. “With more than 30 wholesale customer agreements in place, and even more to come, the company is on the way to fulfilling its vision of high-speed wireless connectivity for all, and I’m proud to help LightSquared achieve that goal.”
