Executive leadership team set to accelerate
commercialization and manufacturing efforts to support space-based
cellular broadband network build out
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the
company building the first and only space-based cellular broadband
network accessible directly by everyday smartphones and is designed
for both commercial and government use, today announced a strategic
realignment of its executive leadership team including the
appointment of Scott Wisniewski, who currently serves as Chief
Strategy Officer, to the additional role of President, Shanti
Gupta, who currently serves as Chief Accounting Officer, as Chief
Operations Officer, and Andrew Johnson, who currently serves as
Chief Legal Officer, to the additional role of Chief Financial
Officer. The strategic realignment is designed to leverage the
proven track record of members of AST SpaceMobile’s existing
leadership and position the company for success in its next phase
of accelerated growth.
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Scott Wisniewski, President and Chief
Strategy Officer (Photo: Business Wire)
By harnessing the capabilities and experience of members of its
existing leadership team, AST SpaceMobile seeks to create an
environment where executives can maximize their proven ability to
accelerate commercialization, scale operations, and drive financial
discipline to achieve the company's ambitious goals.
Scott Wisniewski, AST SpaceMobile’s Chief Strategy Officer, will
be stepping into the additional role of President, leveraging his
extensive industry experience to oversee a broader scope
encompassing commercialization efforts, product development, and
regulatory affairs, in addition to continuing to lead capital
markets strategy, corporate development and investor relations.
Since joining AST SpaceMobile in March 2021, Wisniewski has driven
significant corporate agreements and milestones for the company,
including raising over $600 million of capital in the form of
equity, convertible notes, and non-dilutive prepayments for the
company. With this strategic realignment, he will broaden his focus
to include driving revenue and growth and working to ensure the
seamless transition from strategy to execution for the AST
SpaceMobile network.
Shanti Gupta, currently Chief Accounting Officer, will be
promoted to the role of Chief Operating Officer. In addition to his
role as Chief Accounting Officer, Gupta has been driving many
aspects of the company operations including supply chain, vendor
relationships and negotiations, cost optimization, risk management,
and information technology. As AST SpaceMobile transitions from
technology development to full-scale manufacturing and production,
Gupta’s full time focus on operations, institutional knowledge of
the business, and leadership will be crucial in enhancing
operational excellence, driving cost efficiencies, and making this
critical phase of global expansion successful.
Andrew Johnson, AST SpaceMobile’s Chief Legal Officer, will
serve in the additional role of Chief Financial Officer. Johnson's
deep understanding of the finance and legal landscape will be
invaluable as AST SpaceMobile continues its global expansion.
Johnson will oversee all aspects of accounting, reporting,
treasury, compliance, risk management, and global legal matters.
This expanded role provides strong financial and legal stewardship
at full-scale manufacturing and commercialization of the AST
SpaceMobile network. Johnson joined AST SpaceMobile in May from 3D
Systems Corporation, –a publicly traded provider of 3D printers,
where he served in senior roles including EVP, Chief Corporate
Development Officer and Chief Legal Officer, Interim President and
CEO, and Interim CFO.
"By aligning our executive leadership's proven strengths with
the evolving needs of the company, we believe we are primed for
significant progress as we enter the next phase of
commercialization," said Abel Avellan, Founder, Chairman and CEO of
AST SpaceMobile. "This strategic realignment is designed to empower
each executive to maximize their impact, accelerating our mission
of eliminating connectivity gaps and delivering space-based
cellular broadband to people everywhere whenever they need it."
Avellan added, "We are grateful to Sean Wallace, our outgoing
Chief Financial Officer, for his leadership and contributions to
AST SpaceMobile. His financial expertise was critical as we
navigated a period of significant R&D, formation of key
strategic partnerships, and validation of our technology,
positioning us for rapid acceleration as we transition to
commercial execution. We wish him all the best in his future
endeavors and appreciate that he will consult for the company for a
transition period."
AST SpaceMobile has more than 3,300 patent and patent-pending
claims for its technology and operates state-of-the-art, vertically
integrated manufacturing and testing facilities in Midland, Texas,
which collectively span 185,000 square feet. The company recently
secured strategic investment from AT&T, Verizon, Google and
Vodafone, as well as a new contract award with the United States
Government through a prime contractor. The company has agreements
with more than 45 mobile network operators globally, which have
over 2.8 billion existing subscribers in total, including Vodafone
Group, Rakuten Mobile, AT&T, Bell Canada, Orange, Telefonica,
TIM, Saudi Telecom Company, MTN, Zain KSA, Etisalat, Indosat
Ooredoo Hutchison, Telkomsel, Smart Communications, Globe Telecom,
Millicom, Smartfren, Telecom Argentina, Telstra, Africell, Liberty
Latin America and others. Rakuten, American Tower and Bell Canada
are also existing investors in AST SpaceMobile.
About AST SpaceMobile
AST SpaceMobile is building the first and only global cellular
broadband network in space to operate directly with standard,
unmodified mobile devices, based on our extensive IP and patent
portfolio, for both commercial and government use. Our engineers
and space scientists are on a mission to eliminate the connectivity
gaps faced by today’s five billion mobile subscribers and finally
bring broadband to the billions who remain unconnected. For more
information, follow AST SpaceMobile on YouTube, X (Formerly
Twitter), LinkedIn and Facebook. Watch this video for an overview
of the AST SpaceMobile mission.
Forward-Looking Statements
This communication contains “forward-looking statements” that
are not historical facts, and involve risks and uncertainties that
could cause actual results of AST SpaceMobile to differ materially
from those expected and projected. These forward-looking statements
can be identified by the use of forward-looking terminology,
including the words “believes,” “estimates,” “anticipates,”
“expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,”
“projects,” “predicts,” “continue,” or “should,” or, in each case,
their negative or other variations or comparable terminology.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside AST SpaceMobile’s control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (i) expectations regarding AST SpaceMobile’s strategies
and future financial performance, including AST’s future business
plans or objectives, expected functionality of the SpaceMobile
Service, anticipated timing of the launch of the Block 1 Bluebird
satellites, anticipated demand and acceptance of mobile satellite
services, prospective performance and commercial opportunities and
competitors, the timing of obtaining regulatory approvals, ability
to finance its research and development activities, commercial
partnership acquisition and retention, products and services,
pricing, marketing plans, operating expenses, market trends,
revenues, liquidity, cash flows and uses of cash, capital
expenditures, and AST’s ability to invest in growth initiatives;
(ii) the negotiation of definitive agreements with mobile network
operators relating to the SpaceMobile service that would supersede
preliminary agreements and memoranda of understanding and the
ability to enter into commercial agreements with other parties or
government entities; (iii) the ability of AST SpaceMobile to grow
and manage growth profitably and retain its key employees and AST
SpaceMobile’s responses to actions of its competitors and its
ability to effectively compete; (iv) changes in applicable laws or
regulations; (v) the possibility that AST SpaceMobile may be
adversely affected by other economic, business, and/or competitive
factors; (vi) the outcome of any legal proceedings that may be
instituted against AST SpaceMobile; and (vii) other risks and
uncertainties indicated in the Company’s filings with the SEC,
including those in the Risk Factors section of AST SpaceMobile’s
Form 10-K filed with the SEC on April 1, 2024.
AST SpaceMobile cautions that the foregoing list of factors is
not exclusive. AST SpaceMobile cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. For information identifying important factors
that could cause actual results to differ materially from those
anticipated in the forward-looking statements, please refer to the
Risk Factors incorporated by reference into AST SpaceMobile’s Form
10-K filed with the SEC on April 1, 2024. AST SpaceMobile’s
securities filings can be accessed on the EDGAR section of the
SEC’s website at www.sec.gov. Except as expressly required by
applicable securities law, AST SpaceMobile disclaims any intention
or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625461191/en/
Investor Contact: Scott Wisniewski
investors@ast-science.com
Media Contact: Allison Eva Murphy Ryan 917-547-7289
AstSpaceMobile@allisonpr.com
Grafico Azioni AST SpaceMobile (NASDAQ:ASTS)
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Grafico Azioni AST SpaceMobile (NASDAQ:ASTS)
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