Speedcast replacing its CFO and much of its board, including chairman, after H1 2019 under-performance

by Peter B. de Selding

PARIS — Mobile satellite services provider Speedcast International is replacing its chief financial officer, its chairman and several non-executive directors, paying no dividend in 2019 and consolidating its enterprise resource planning tools in the face of worse-than-expected financial results for the first half of 2019.

Speedcast Chief Executive P.J. Beylier, who is keeping his job, had warned in July that several factors had combined to hurt the company’s performance. The July announcement resulted in a 40% drop in Speedcast stock, traded on Australia’s ASX

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