Scalable operational finance expertise
supports growth plans
CARLSBAD, Calif., Aug. 28,
2024 /PRNewswire/ -- Viasat, Inc. (NASDAQ:
VSAT), a global leader in satellite communications, today announced
the appointment of Gary Chase as
Chief Financial Officer, effective September
16, 2024. He will succeed Shawn
Duffy, who will remain with Viasat in the role of Chief
Accounting Officer.
Mr. Chase joins Viasat from Delta Air Lines, where he most
recently served as Senior Vice President of Operational Finance and
was a member of the Delta Leadership Committee, a group of top
executives reporting directly to the CEO. During his more than
12-year tenure at Delta Air Lines, Mr. Chase oversaw a number of
important financial functions, including Financial Planning &
Analysis, Investor Relations, and Corporate Planning, as well as
Operational Finance. Mr. Chase also served as Delta's Chief
Strategy Officer. Prior to joining Delta, Mr. Chase was an
Institutional Investor ranked analyst and Managing Director in
equity research at Barclays Capital and Lehman Brothers in
New York, having followed the
airline and transportation industries for 12 years.
"We are thrilled to welcome Gary to Viasat and look forward to
adding his expertise in scaled operational financial systems to
support our growth objectives," said Mark
Dankberg, Chairman and CEO of Viasat. "Gary's extensive
operational experience, and his perspective as a Viasat customer,
make him well positioned to increase financial and operational
automation and rigor, and sharpen our focus on cash generation and
Inmarsat integration. He will play a pivotal financial and business
oversight role for Viasat, with emphasis on data systems
architecture and linking operational and financial metrics,
delivering efficiencies, and optimizing our capital structure to
create value for our employees, customers, and shareholders."
Dankberg continued, "We are also very pleased that Shawn will
stay on in her newly created role. Since becoming CFO in 2014,
Viasat's revenues have more than tripled to $4.5 billion. Her deep understanding of the
industry, as well as our company, make her a valued member of our
executive team, and she'll continue to provide financial advisory,
accounting and reporting, tax strategy and governance
oversight."
"I am excited to join Viasat as its next CFO at such an
important time in the company's history," said Mr. Chase. "I have a
tremendous amount of respect for Viasat's businesses and its global
mission of delivering safety and connectivity to customers in the
air, at sea, and on land. I look forward to partnering with Mark,
Guru, Shawn and the rest of the leadership team to further advance
the finance function and its support for Viasat's strategic
initiatives and shareholder value creation."
About Gary Chase
Prior
to joining Viasat, Mr. Chase led the formation and development of
Delta Air Line's Operational Finance function, charged with
developing data and analytics that support business process
improvement and transformation. Mr. Chase and his team were
responsible for developing and executing the long-term plans and
initiatives required for Delta to achieve its strategic and
financial objectives. He had previous oversight for the Financial
Planning and Analysis, Treasury, Fleet Procurement and Strategy,
Investor Relations, Pension Management, and Corporate Audit
functions. He is most proud of the high caliber team he leaves
behind, the many careers he has helped to develop, and the
contributions his former teammates continue to make. Mr. Chase
graduated with a bachelor's degree in economics from Union College and earned his MBA from the Amos Tuck
School of Business at Dartmouth.
About Viasat
Viasat is a global communications
company that believes everyone and everything in the world can be
connected. With offices in 24 countries around the world, our
mission shapes how consumers, businesses, governments and
militaries around the world communicate and connect. Viasat is
developing the ultimate global communications network to power
high-quality, reliable, secure, affordable, fast connections to
positively impact people's lives anywhere they are—on the ground,
in the air or at sea, while building a sustainable future in space.
In May 2023, Viasat completed its
acquisition of Inmarsat, combining the teams, technologies and
resources of the two companies to create a new global
communications partner. Learn more at www.viasat.com, the
Viasat News Room or follow us on
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Copyright © 2024 Viasat, Inc. All rights reserved. Viasat,
the Viasat logo and the Viasat Signal are registered in the U.S and
in other countries to Viasat, Inc. All other product or company
names mentioned are used for identification purposes only and may
be trademarks of their respective owners.
Forward-Looking Statements
This press release contains
forward-looking statements that are subject to the safe harbors
created under the Securities Act of 1933 and the Securities
Exchange Act of 1934. Forward-looking statements include, among
others, statements that refer to the responsibilities of Mr. Chase
and Ms. Duffy, and the resulting benefits to employees, customers
and shareholders. Readers are cautioned that actual results could
differ materially from those expressed in any forward-looking
statements. Factors that could cause actual results to differ
include: our ability to realize the anticipated benefits of the
ViaSat-3 class satellites and any future satellite we may construct
or acquire; unexpected expenses related to our satellite projects;
our ability to successfully implement our business plan for our
broadband services on our anticipated timeline or at all; capacity
constraints in our business in the lead-up to the launch of
services on our ViaSat-3 satellites; risks associated with the
construction, launch and operation of satellites, including the
effect of any anomaly, operational failure or degradation in
satellite performance; our ability to successfully develop,
introduce and sell new technologies, products and services; changes
in the global business environment and economic conditions; our
reliance on a limited number of third parties to manufacture and
supply our products; increased competition; and our level of
indebtedness and ability to comply with applicable debt covenants.
In addition, please refer to the risk factors contained in our SEC
filings available at www.sec.gov, including our most recent Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are
cautioned not to place undue reliance on any forward-looking
statements, which speak only as of the date on which they are made.
We undertake no obligation to update or revise any forward-looking
statements for any reason.
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SOURCE Viasat, Inc.