– USA, RI – KVH Industries, Inc., (Nasdaq: KVHI), today announced the appointment of Brent Bruun to its Board of Directors as President and CEO.
The Company also announced the appointments of Dave Kagan and David Tolley to its Board of Directors.
“We would like to congratulate Brent on his appointment as President and CEO. Our Nominating and Corporate Governance Committee conducted an extensive search process with the assistance of a nationally recognized executive placement firm and considered several well-qualified candidates. As the process continued, it became clear that Brent is the best choice to lead the Company going forward. He has the right experience, deep knowledge of KVH and our products and services, and management capabilities to successfully execute our long-term strategy. We have already seen him succeed in the interim position and are confident that he is the right person to achieve the Company’s goals, including sustained profitability, positive operating income, and enhanced shareholder value.” said Board Chair, Cathy-Ann Martine-Dolecki.
Ms. Martine-Dolecki continued, “We are also pleased to welcome Dave Kagan and David Tolley to the Board. Both individuals bring important experience and perspectives. Mr. Kagan is a satellite industry veteran with more than 25 years of relevant experience. Currently the CEO of Globalstar, Inc., he brings executive leadership and turnaround expertise, as well as finance and transaction experience. Mr. Tolley brings decades of extensive capital markets, financial and operating experience, having served most recently as CFO of each of Intelsat and OneWeb. He also brings expertise in investing across the satellite and telecommunications industry and has significant board experience. We look forward to working with both of them.”
About Brent C. Bruun
Mr. Bruun has served as KVH’s Interim President and CEO since March 2022. He first joined KVH in 2008 and played a critical role in the growth of the Company’s industry-leading mobile connectivity business.
He also served as COO of KVH beginning in 2016, as well as Interim CEO of Beforeany. Before that, he was EVP of mobile broadband, SVP of global sales and business development, and VP of global sales and business development. He previously served as SVP of strategic initiatives for SES AMERICOM, a satellite operator providing services via its fleet of 16 geosynchronous satellites covering North America. Earlier in his career, Mr. Bruun held positions at KPMG LLP and General Electric.
Brent Bruun commented, “I am very excited to take on the permanent CEO role and appreciate the confidence the Board has placed in me. I am committed to driving progress across both the mobile connectivity and inertial navigation businesses. I look forward to working with the Board, senior leadership, and my fellow employees around the world to expand upon our foundation of innovation, leadership, outstanding products, and commitment to customers as we work to build sustainable results and drive profitability.”
He holds a B.S. in accounting from Alfred University and is a certified public accountant.
About David B. Kagan
Dave Kagan has served as CEO of Globalstar, Inc. (NYSE: GSAT) since September 2018, where he also served as President and COO from December 2017 to September 2018 and from January 2016 to March 2017. From March 2017 to November 2017, he was the COO of Speedcast International Limited. Mr. Kagan previously served as President of ITC Global LLC, a premier VSAT satellite services provider, from August 2014 to September 2015, and President and CEO of Globe Wireless LLC from June 2011 until it was sold to Inmarsat in Before014. Before that, he served as President and CEO of Maritime Telecommunications Network, a major satellite services provider to the cruise, yachting, and maritime markets, from January 1997 to December 2008. Earlier in his career, he was VP of Finance, Treasurer, and Co-CFO at Norwegian Cruise Line from 1994 to 1997.
Mr. Kagan holds a master’s degree in Business Administration from Florida Atlantic University and a bachelor’s degree in both Finance and Marketing from the University of South Florida, Tampa.
About David M. Tolley
David Tolley most recently served as EVP and CFO of Intelsat S.A. from June 2019 to March 2022, where he helped to lead a multi-billion dollar restructuring of one of the world’s largest satellite providers. Before joining Intelsat, Mr. Tolley served as CFO for Network Access Associates Ltd. beginning in 2017. From 2000 to 2011, Mr. Tolley served as a Senior Managing Director in the Private Equity Group at Blackstone, where he led satellite services strategy and investing and served on the Private Equity Investment Committee. From 1990 to 2000, he was a VP at Morgan Stanley in the Investment Banking Division, where he provided banking and advisory services to established and emerging companies in the broader communications sector. He has served on the boards of directors of eight public and private companies, including ExteNet Systems from 2016 to 2019, New Skies Satellites from 2004 to 2006, and Centennial Communications from 2001 to 2005.
Mr. Tolley holds a Master of Business Administration degree from Columbia Business School and a Bachelor of Science degree in Economics and History from the University of Michigan.
About KVH Industries, Inc.
KVH Industries, Inc., is a global leader in mobile connectivity and inertial navigation systems, innovating to enable a mobile world. A market leader in maritime VSAT, KVH designs, manufactures, Before, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.
For more information: https://www.kvh.com/
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