THE CFO of satellite operator Inmarsat is set to leave the company early next year after nine years leading the finance function at the business.
Inmarsat said that Rick Medlock, who joined the business in 2004, is leaving to take up a position with a private equity-owned business.
“I have been with Inmarsat for nine years and have hugely enjoyed my time at the company. However, I do believe it is time to move to the next stage of my career,” said Medlock. “I leave the company both financially and operationally strong at an extremely exciting time in its development.”
Rupert Pearce, chief executive officer, said: “Rick has played an important part in the development of Inmarsat for many years, not least in creating the financial strength which enables the launch of our Inmarsat-5 series of satellites.”
The board has begun a process to appoint a successor.