Mr. Smith Reaffirms Company's Commitment to Work with All Stakeholders to Find a Path Forward that Allows the Company to Launch Its Nationwide Wireless Network
RESTON, Va., August 21, 2012 – LightSquared today announced that Doug Smith will serve as the new chairman of the board and chief executive officer for the company. Mr. Smith was previously serving as co-chief operating officer for the company.
“LightSquared remains committed to working with all stakeholders to find an equitable resolution to the regulatory challenges that the company has faced this past year,” Mr. Smith said. “We are very confident that working together, we can provide the American public with both a protected and robust GPS system while enabling LightSquared to offer consumers and businesses more choice and a lower priced 4G wireless alternative they need and deserve.”
Previously, Mr. Smith served as LightSquared’s chief network officer and was responsible for LightSquared’s network design, deployment and operations, helping to develop the technical characteristics necessary to bring to market a competitive high-speed wireless network. Prior to his service at LightSquared, he held a number of leadership positions at Clearwire and Sprint Nextel.
“I look forward to and will continue to work closely with our partners, government agencies, and other related industry organizations in order to fulfill our vision to help bring affordable, reliable and high-speed wireless connectivity to all Americans,” Smith stated.
LightSquared’s mission is to revolutionize the U.S. wireless industry. With the creation of the first-ever, wholesale-only nationwide 4G-LTE network integrated with satellite coverage, LightSquared offers people the speed, value and reliability of universal connectivity, wherever they are in the United States. As a wholesale-only operator, LightSquared will deploy an open 4G wireless broadband network to be used by existing and new service providers to sell their own devices, applications and services— at a competitive cost and without retail competition from LightSquared. The deployment and operation of LightSquared’s network represent more than $14 billion of private investment over the next eight years. For more information about LightSquared, please go to www.LightSquared.com, www.facebook.com/LightSquared, and www.twitter.com/LightSquared.
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This release contains forward-looking statements and information regarding LightSquared and its business. Such statements are based on the current expectations and certain assumptions of LightSquared’s management and are, therefore, subject to certain risks and uncertainties. The forward-looking statements expressed herein relate only to information as of the date of this release. LightSquared has no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release, nor is there any assurance that the plans or strategies discussed in this release will not change.