As we move into the second half of the year, I want to acknowledge our customers, partners and vendors for their trust and their ongoing support and engagement in the midst of our recapitalization efforts and the unprecedented economic disruptions across many sectors. First and foremost, we sincerely hope that each of you, along with your teams and your families, remain safe and well.

I have been leading organizations through change for the better part of 20 years and I can say with much certainty that 2020 has presented some of the most challenging conditions I’ve ever operated in. I can also tell you that my team and I, along with our global employees across the Speedcast organization, are fully up to the challenge.

When we announced our recapitalization plan in April, we committed that we’d continue to support your connectivity needs and that there would be no operational limitations to our business because of the recapitalization. Since then, we’ve worked hard to do just that – illustrating that promise through our ongoing work to deliver for our customers and show the industry that we’re here to stay.

Now, after reaching several critical hurdles and milestones of our recapitalization, I can say with confidence that the process we have chosen to restructure the business was the right one. We have put together a strong plan that we can stand behind and follow as we work to ensure a path for growth. While there is still work to be done to complete this process, we have the foundational pieces in place to emerge as a more focused, aligned and financially healthy company. I am excited about our future working with all of you and I look forward to being able to announce the completion of our recapitalization soon.

As illustrated by some of the content within this issue of our quarterly newsletter, our teams around the world have proven their ability to adapt quickly to both remote work and business transformation needs, all while delivering for our customers. We’re confident that we can continue to work together to help your operations succeed and meet the industry headwinds that lie ahead.

Further Strengthening Our Leadership Team

Over the last several months we’ve strengthened our leadership team, adding talent in key positions and empowering our new colleagues to lead and build strong teams and help align the organization around common goals. Now, with a new driving force helping to lead our organization, we are excited to continue to transform the business to realize our full potential and deliver more for our customers.

Richard Elson, EVP of Global Energy

Richard Elson is our latest appointment, joining us as Executive Vice President of Global Energy. Richard is recognized for his sales achievements with remote communications clients across several high-profile leadership positions and has earned a reputation for not shying away from challenges. He has partnered with companies to navigate industry headwinds and built teams capable of handling massive scale and complicated connectivity needs for clients of all sizes.

Chris Hill, Chief Technology Officer

This quarter, we also welcomed our new Chief Technology Officer, Chris Hill, to the team. Chris is recognized for crafting what many in the industry now see as the gold standard in customer solution development. His network design workshops have helped companies across a variety of mobility markets over the years, honing in on client needs, pain points, and network complexities to ultimately create optimal connectivity solutions for customer operations.

We are excited about building a highly complementary team across all levels within Speedcast, with knowledgeable employees who are passionate about solving complex issues for customers. These additions will help ensure we are well-positioned to support customers in the most strategic areas of next-generation connectivity, IT and network services, including digital transformation. They will also drive our ability to accelerate changes to serve customers better and fuel innovation across our end-to-end portfolio of solutions.